Home Insights Carey A. Stiss Closes $21 Million Refinance of Broward Apartment Complex

Carey A. Stiss Closes $21 Million Refinance of Broward Apartment Complex

Press Release
March 23, 2011

Bilzin Sumberg Baena Price & Axelrod LLP announced today that Real Estate Partner Carey A. Stiss closed a $21 million refinance of a Broward County apartment complex on behalf of client CP-PRCP Lauderhill I, LLC ("CP-PRCP"). CP-PRCP is anaffiliate of West Palm Beach-based Priderock Capital Partners, LLC.

In 2008, Mr. Stiss represented CP-PRCP in the purchase of The Glen at Lauderhill (formerly The Villas at Lauderhill) from Intervest National Bank, which had acquired the hurricane-damaged, 405-unit complex through foreclosure in July 2008. The acquisition at that time was financed by a $21 million reconstruction loan provided by BB&T Real Estate Funding. In this latest representation, Mr. Stiss negotiated a $21 million refinance of that loan with lender Freddie Mac.

About Bilzin Sumberg

Bilzin Sumberg Baena Price & Axelrod LLP is a full-service, commercial law firm with extensive experience in the areas of commercial finance, corporate and securities, environmental law, land use and government relations, litigation, real estate, restructuring and bankruptcy, tax and wealth transfer. For more information, please visit www.bilzin.com.

YOU MIGHT ALSO LIKE
Speaking Engagement May 28, 2026
Florida Legislative Update: Impacts and Opportunities for Homebuilders
Thomas Mullin and Nicholas Noto present the webinar Florida Legislative Update: Impacts and Opportunities for Homebuilders, where they discuss the state’s new Infill Redevelopment Act (Senate Bill 1434), Live Local Act mandates for workforce housing, and brownfield redevelopment programs. Thom...
Client Alert May 22, 2026
Florida’s Infill Redevelopment Act (SB 1434) Is Now in Effect
Senate Bill 1434, the Infill Redevelopment Act (the “Act”), was signed into law by the Governor of Florida on Thursday, May 21, 2026. The bill creates Section 163.2525, Florida Statutes, and establishes a new framework to facilitate the development and redevelopment of environmentally im...
Client Alert May 13, 2026
Emerging Pressure Points on Florida’s Condominiums and Homeowners’ Associations
Florida's condominiums and HOAs face converging pressures from stalled legislation, new Fannie Mae and Freddie Mac lending standards, and proposed reforms to the state's condominium termination statute.
VIEW MORE