Updated Jun 2, 2025
TruAmerica And Oaktree Capital Secure $255.3M Refinance For Multifamily Portfolio In Tampa Orlando Scottsdale
3939 Ehrlich Rd, 990 Warehouse Road & 7261 Crossroads Garden Dr
$255,300,000
Units
1,324
Asset Type
MultiFamily
Closing
Jun 2, 2025
About this deal
AI
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.
On the Map
$255,300,000
MultiFamily
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Players
Tampa 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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93