Newmark secures $76.2M take-out for Embrey's 354-unit Orlando apartments
The report lists bridge lenders, debt funds, balance-sheet lenders and CLO-driven capital sources but does not name the lender that funded the loan or the terms.
At a glance
Embrey obtained $76.2 million in construction take-out financing for Citron at The Packing District, a 354-unit Class A apartment community in Orlando, Connect CRE reported.
Newmark approached bridge lenders, debt funds, balance-sheet lenders and CLO-driven capital sources, according to the report, but it did not identify the lender that funded the loan or the terms.
Against 354 units, $76.2 million works out to roughly $215,000 of debt per apartment.
Embrey obtained $76.2 million in construction take-out financing for Citron at The Packing District, a 354-unit Class A apartment community in Orlando, Connect CRE reported. Newmark secured the loan for Embrey; Matthew Williams and Rob Wright led the assignment, with Kyle Schlitt, James Maynard and David Williams supporting, according to the report.
Newmark approached bridge lenders, debt funds, balance-sheet lenders and CLO-driven capital sources, according to the report, but it did not identify the lender that funded the loan or the terms.
Against 354 units, $76.2 million works out to roughly $215,000 of debt per apartment.
Citron delivered in 2025 as a five-story residential building with an adjoining six-story structured parking garage, inside The Packing District, a $700 million, 202-acre mixed-use redevelopment. Nearby retail and dining include a Publix supermarket and the Great Southern Box Company food hall, with the College Park and Edgewater Drive neighborhoods close by.
Per PRED's records, Embrey bought an entitled Lafayette site for $38.5 million earlier this year and moved into Alamo Heights with a 296-unit project structured around a land lease.
| Item | Detail |
|---|---|
| Borrower | Embrey |
| Asset | Citron at The Packing District, Orlando |
| Units | 354, Class A multifamily |
| Financing | $76.2 million construction take-out |
| Broker | Newmark |
| Lender groups canvassed | Bridge lenders, debt funds, balance-sheet lenders, CLO-driven capital |
| Funded by | Not stated in the report |
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