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Bell Nunnally Represents Seller and Bondholder in Major Residential Real Estate Deal in Florida

Bell Nunnally Senior Counsel Nikki Hurst Gibson represented RBK Waterview Investors and AOF Waterview Holdings in the late November sale of a multi-family apartment complex in Florida, bringing to a conclusion the investment firm’s three-year involvement with the property. RBK Waterview Holdings initially purchased the property in 2015. It then sold the property in 2016 to AOF Waterview Holdings. The complex was acquired, rehabilitated and equipped, in part, with the proceeds of Subordinate Multifamily Housing Revenue Bonds and a senior Freddie Mac loan. RBK Waterview Investors was the bondholder. In the November transaction, AOF Waterview Holdings sold the property to S2 Waterview, LLC., with proceeds of the sale satisfying the senior lender and the RBK Waterview Investors’ bonds were redeemed and defeased.