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2110 North Ola Avenue, Tamp...

Updated Oct 28, 2024

Sumitomo Mitsui Banking Corporation Provides $102M Loan For Tampa Multifamily Property
FINANCEDMultiFamily

Sumitomo Mitsui Banking Corporation Provides $102M Loan For Tampa Multifamily Property

2110 North Ola Avenue, Tampa, FL 33602, USA

$102,000,000

$239/SF

Building Size

426,865 SF

Asset Type

MultiFamily

Closing

Aug 26, 2021

About this deal

AI

2110 North Ola Avenue in Tampa has recently been involved in a multifamily transaction. The property consists of 314 units and includes 27,418 square feet of ground-floor retail and entertainment space. The deal was facilitated by brokers Jordan Roeschlaub, Chris Kramer, Danny Matz, and Don Pavlov from Newmark. The loan for this transaction was provided by Sumitomo Mitsui Banking Corporation, with a total amount of $102,000,000. The landlord of the property is SoHo Capital.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $102,000,000
  • Units: 314
  • Retail SF: 27,418 (Ground-floor Retail & Entertainment Space)
  • Lender: Sumitomo Mitsui Banking Corporation
  • Landlord: SoHo Capital
  • Brokers: Jordan Roeschlaub, Chris Kramer, Danny Matz, and Don Pavlov - Newmark

The professionals involved in this deal, including brokers Jordan Roeschlaub, Chris Kramer, Danny Matz, and Don Pavlov, played a crucial role in facilitating the transaction. Sumitomo Mitsui Banking Corporation provided the loan for the deal, while SoHo Capital acted as the landlord of the property.

On the Map

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$102,000,000

$239/SF

MultiFamily

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Players

Christopher Kramer

Newmark

Broker

$24.3B

vol

119 deals

Broker
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking CorporationLender
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Tampa MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $239 per square foot on a published $102M for 426,865 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.16%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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