PGIM Real Estate has provided $110 million in five-year, interest-only, fixed-rate financing to Cascade Investment for the refinancing of Asher Residences in Tampa.
Asher Residences is a 22-story apartment tower located within the transformative Water Street Tampa development in downtown Tampa. Completed in December 2021, the building features 490 residential units, including 97 furnished units operated under the ROOST hotel brand. These hotel-style residences are designed to accommodate growing demand from visitors attending events at the nearby Amalie Arena and Tampa Convention Center.
Water Street Tampa is a landmark $3 billion to $4 billion mixed-use development that covers approximately 56 acres of former parking lots and vacant land. The first phase of the ambitious project has been completed, introducing new office buildings, residential complexes, hotels, and retail spaces adjacent to Amalie Arena, home of the NHL’s Tampa Bay Lightning. Further phases of development are already underway, continuing to transform the downtown waterfront area.
