TruAmerica Multifamily Completes $300M Refinancing Of Multifamily Properties In FL, TN, AZ, And GA
2350 Cypress Pond Road Palm Harbor, Florida 34683, USA, 3602 Carrollwood Place Cirle Tampa, Florida 33624, Usa, 300 Royal Oaks Boulevard Brentwood, Tennessee 37067, USA, 3601 East Mcdowell Road Phoenix, Arizona 85008, USA & 1475 Sand Bay Drive Southwest Atlanta, Georgia 30331, USA
$300,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 27, 2023
AI
TruAmerica Multifamily, a leading multifamily investment firm, successfully completed a $300 million refinancing of five multifamily properties across Florida, Georgia, Arizona, and Tennessee. The agency loans, arranged by Walker & Dunlop, cover over 2,100 units and include properties such as Sabal Palm at Carrollwood in Tampa, Slate Apartments in Atlanta, and Viera Cool Springs near Nashville.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $300,000,000
- Units: 2,100
The refinancing deal was facilitated by brokers Russell Dey and Trevor Fase from Walker & Dunlop. Their expertise and negotiation skills played a pivotal role in securing the refinancing loan for TruAmerica Multifamily's portfolio across multiple states. With their assistance, TruAmerica Multifamily was able to secure favorable loan terms and continue their investment strategy in the multifamily sector.
Players
Miami 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
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93