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SARASOTA, Fla. — Cambridge Realty Capital has provided a $29.2 million first mortgage loan to refinance Aravilla Sarasota in Sarasota.
The loan is fully amortizing with a 35-year term. Tony Marino of Cambridge arranged the financing for a Florida-based limited liability company.
Cambridge’s early rate lock program was utilized, which allowed the owner to avoid the recent run-up in interest rates.