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**Artemis and Grand Peaks Secure $58.33M Refi for The Olivia Apartments**
Artemis Real Estate Partners and Grand Peaks Properties have successfully secured a $58.33 million refinance loan for The Olivia, a 288-unit Class A multifamily community in Homestead, Florida. Built in 2018, The Olivia is located roughly halfway between Miami and the Florida Keys. The property was acquired by the investment partners for $71 million in late 2021, followed by significant capital improvements over the past three years.
Berkadia arranged the seven-year, floating-rate loan backed by Freddie Mac. The financing team included Mitch Sinberg, Michael Basinski, Patrick McGlohn, Scott Wadler, Brad Williamson, and Matt Robbins.
The Olivia is situated on 3.4 acres at 14981 Southwest 283rd Street and offers spacious one-, two-, and three-bedroom floor plans, with units up to 1,283 square feet. The community features a wide array of amenities, including a swimming pool, a clubhouse equipped with a business center, a state-of-the-art fitness center, a coffee bar, and a fenced-in play area. The property also offers easy access to nearby parks, walking paths, and other outdoor recreation opportunities.
Over the past decade, Grand Peaks has emerged as a prominent multifamily investor in Miami-Dade County, having acquired more than 2,700 apartment units in the region.
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