Franklin Street has closed a $6.3 million refinance loan for Tarponwood Lake Apartments, a 150-unit apartment community located in Tarpon Springs, Florida. Ben Miller and Casey Siggins, both directors of loan origination for Franklin Street, secured the loan on behalf of the owner, Lime Street Properties, Inc. The 10-year loan includes a 4.73 percent fixed rate with a 30-year amortization.

“Lending institutions are starting to limit the amount of cash-out in refinances as the government is starting to put pressure on lenders to safe guard against the next real estate bubble, but we were able to secure competitive terms for the owner and reduce the current monthly payment significantly,” Miller said.

Tarponwood Lake Apartments is located at 715 E. Lime St., close to local restaurants, shopping and parks. Amenities include a large swimming pool, stocked fishing lake, 24-hour maintenance and an on-site laundry facility.

About Franklin Street: Franklin Street is a family of full-service real estate companies focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions—Real Estate, Capital, Insurance, Management, and Valuation—Franklin Street offers unmatched value and optimal solutions for clients nationwide. For more information on Franklin Street, please visit FranklinSt.com.