Berkadia recently completed the sale and financing of two garden-style multifamily communities located in Tampa, FL: The Palms at Ashley Oaks (130 units) and 22 North (176 units). Senior Managing Director Jason Stanton of Berkadia’s Tampa office, along with Senior Managing Director Cole Whitaker from their Orlando office, represented the seller – Atlanta-based Asia Capital Real Estate.
Managing Director Allan Freedman from Berkadia’s Los Angeles location secured acquisition financing through Fannie Mae for the buyer – Los Angeles-based Miramar Capital. This five year loan featured a 5.08 percent interest rate with a 35 year amortization schedule and full term interest only payment plan.
Stanton commented on this successful transaction saying “This was an ideal opportunity for Miramar to purchase two properties near University of South Florida as well as surrounding medical hubs.” He added that “Miramar plans to implement upgrades to these communities while building upon capital improvements already made by ACRE during their hold period.”
