Fla. Apartments Change Hands, to Go Condo

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Fla. Apartments Change Hands, to Go Condo

Monday, February 06, 2006

The Gables, a 168-unit apartment community in Gainesville, Fla., has traded hands and will be converted into condominiums. Fremont Investment & Loan provided the $21 million in financing to an entity controlled by Miami investors Gary Burman and Peter Wenzel. The two-year, adjustable rate loan was arranged by Holliday Fenoglio Fowler LP. The property, at 4700 SW Archer Road, close to Interstate 75 and the University of Florida in Gainesville, consists of 21 buildings. It has a clubhouse, fitness center, pool and lighted tennis courts.