Lakes of Margate Apartment Homes
The $35.7 million Freddie Mac floating rate loan carries a 10-year term with a 30-year amortization, with the first four years of interest-only payments. Built in 1988, Lakes of Margate Apartment Homes is a garden-style community consisting of 13 buildings offering modern 1-, 2- and 3-bedroom units with wood plank flooring, in-unit laundry, vaulted ceilings (in select units), private patios and balconies. Residents enjoy access to two pools and a fitness center, business center and clubhouse, tennis courts, grilling area, playground and fishing dock. Located in Fort Lauderdale between Coral Springs and Pompano Beach, the property offers easy access to I-95 and is conveniently located near restaurants, shopping and entertainment, as well as the region’s colleges and post-secondary education centers.