Providence Real Estate Receives $60 Million Freddie Mac Loan For 2211 Grand Isle Drive Multifamily Property

2211 Grand Isle Drive is a 390-unit garden-style multifamily property located in the Brandon market, specifically in the Tampa MSA. The property was built in 1999 and features extensive amenities aimed at enhancing the living experience of its residents. The financing for this property was executed with a loan amount of $60.24 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $60,000,000
• Lender: Freddie Mac
• Landlord: Alan Pollack - Providence Real Estate
• Brokers: Stephen West, Matthew Wallach & Walker Layne - Walker & Dunlop
• Loan Terms: floating-rate

Walker & Dunlop managed the arrangement of the Freddie Mac floating-rate loan specifically for Providence Real Estate, which owns the 2211 Grand Isle Apartment Homes. The financing was structured through Walker & Dunlop’s capital markets team and involved support from their in-house valuation platform.