TruAmerica And Oaktree Capital Secure $255.3M Refinance For Multifamily Portfolio In Tampa Orlando Scottsdale

A refinancing transaction was secured for a multifamily portfolio consisting of 1,324 units across four properties located in Tampa, Orlando, and Scottsdale. The loan amount for this refinancing is $255,300,000, with a five-year term and floating interest rate, aimed at supporting ongoing value-add upgrades to the properties.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $255,300,000
• Asset Units: 1,324
• Loan Type: Refinance
• Loan Terms: five-year, floating-rate
• Landlord: Robert E. Hart - TruAmerica
• Landlord: Howard Marks - Oaktree Capital Management
• Brokers: Annie Rice, Brandon Smith & Kevin MacKenzie - JLL

JLL arranged the refinancing loan, which is structured as interest-only with flexible terms tailored to facilitate property enhancements. The key individuals involved include Robert E. Hart, representing TruAmerica, and Howard Marks from Oaktree Capital Management, who collaborated in this financing effort.