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14323 U.S. 301, Riverview, ...

Updated Oct 28, 2024

Cross Lake Partners & GreenPointe Holdings Acquire Multifamily Property In Tampa With $50.25 Million Loan From Synovus Bank & Federal Capital Partners
FINANCEDMultiFamily

Cross Lake Partners & GreenPointe Holdings Acquire Multifamily Property In Tampa With $50.25 Million Loan From Synovus Bank & Federal Capital Partners

14323 U.S. 301, Riverview, FL, USA

$50,250,000

Building Size

—

Asset Type

MultiFamily

Closing

May 6, 2021

About this deal

AI

A multifamily property located at 14323 S US Hwy-301 in Tampa recently underwent a closed transaction. The property, owned by Cross Lake Partners and GreenPointe Holdings, was subject to a loan provided by Synovus Bank and Federal Capital Partners. The loan amount totaled $50,250,000 and consisted of a $33.1 million senior loan from Synovus Bank and $17.15 million in preferred equity from Federal Capital Partners.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $50,250,000
  • Loan Type: Other
  • Lender: Synovus Bank & Federal Capital Partners
  • Landlord: Cross Lake Partners & GreenPointe Holdings
  • Brokers: Scott Wadler & Wyatt Krapf - Berkadia

The deal was facilitated by Scott Wadler and Wyatt Krapf of Berkadia, who represented the parties involved in the transaction. The loan provided by Synovus Bank and Federal Capital Partners played a crucial role in financing the acquisition of the multifamily property in Tampa.

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$50,250,000

MultiFamily

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Players

Scott Wadler

Berkadia

Broker

$11.1B

vol

180 deals

Broker
GH
GreenPointe HoldingsLandlord
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Wimauma MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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