**Investor Trio Secures $56.6M Refinance for Tampa-Area Multifamily Community**
Investors behind a 300-unit apartment development in the Tampa area have secured a $56.62 million loan from Mesa West Capital to recapitalize The Easton Riverview, a Class A garden-style multifamily community located in South Hillsborough County, about 30 minutes south of downtown Tampa, Florida.
Financing was arranged by Scott Wadler and Mitch Sinberg of Berkadia’s Boca Raton and Miami offices, in partnership with Bryan Brown from Berkadia Tampa. The debt was secured on behalf of the project sponsors: a joint venture between Cross Lake Partners, GreenPointe Holdings, and Rivers Residential LLC.
“This financing allows the borrower to pay off its construction loan and have prepayment flexibility to either sell or secure permanent financing at an opportunistic time in the future,” said Wadler.
Mesa West Capital provided a three-year, floating-rate loan, with Russell Frahm and Brian Hahn leading the transaction on behalf of the lender.
Completed in 2023, The Easton Riverview sits on a 15.51-acre site at 14471 Stagedoor Johnny Place in Ruskin, Florida. The community offers a range of modern amenities, including a resort-style pool, a 24-hour fitness center, and dual electric vehicle charging stations.
