Ease Capital has successfully arranged a refinancing package of $45.5 million for Boardwalk Holdings, the proud owner of the Reserve at Temple Terrace in Temple Terrace, Florida. This 290-unit rental community was previously utilized as student housing for the University of South Florida, located near Tampa.
The loan is designed to be a floating-rate financing solution that will assist with stabilizing and leasing up this impressive 10-building project. With terms that allow for capital return to investors, this non-recourse loan offers two years plus two one-year extensions and interest-only payments.
The Reserve at Temple Terrace boasts spacious living options such as 500-square-foot one-bedroom units priced at $1,399 and larger 987-square-foot two-bedroom units available for $1,799. Each unit comes equipped with either a patio or balcony to enjoy outdoor space. Residents can also take advantage of amenities like a clubhouse, fitness center, pool with hot tub access and barbecue area.
At Ease Capital we offer various financing options including fixed rate solutions as well transitional funding packages ranging from $5 million up to $50 million in value.
