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Fannie Mae Provides $76.8 Million Refinance Loan For 324-Unit The Mav Channelside In Tampa

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FINANCED
$76,800,000
Alan Tapie
Thomas Wiedeman
Brad Walker
+ 1

Florida

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MultiFamily
Financed 07/25/2024
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FINANCED

Fannie Mae Provides $76.8 Million Refinance Loan For 324-Unit The Mav Channelside In Tampa

601 North 12th Street

See Similar Deals
MultiFamily
Financed 07/25/2024
Alan Tapie
Thomas Wiedeman
Brad Walker
+ 1
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Loan

The Mav Channelside is a multifamily property located at 601 North 12th Street in Tampa, comprising 324 units. The property was built in 2022 and currently has an occupancy rate of 90%. A refinance loan amount of $76,800,000 was secured to support this apartment community.

Summary of transaction details:

BWE arranged the $76.8 million loan utilizing Fannie Mae’s Near-Stabilization Execution for a joint venture led by Daniel Corp. This strategic financial arrangement reflects the ongoing investment activities in the Tampa market.

Players

Alan Tapie
Bellwether Enterprise (BWE)
Alan Tapie
3 deals$155.7M volume(770) 402-5392
BROKER
Thomas Wiedeman
Bellwether Enterprise (BWE)
Thomas Wiedeman
2 deals$147.7M volume
BROKER
Brad Walker
Bellwether Enterprise (BWE)
Brad Walker
2 deals$147.7M volume(678) 710-9154
BROKER
Hanley Long
Bellwether Enterprise (BWE)
Hanley Long
2 deals$147.7M volume
BROKER
Fannie Mae
Fannie Mae
LENDER

Details

FINANCED
IMAGE: Brad Walker, Pat Henry, Alan Tapie & Thomas Wiedeman DATE: 07/25/2024 ADDRESS: 601 North 12th Street MARKET: Tampa ASSET TYPE: Multifamily ~ UNITS: 324 LENDER: Fannie Mae LANDLORD: Pat Henry - Daniel Corp. (@Daniel.Corporation) BROKERS: Alan Tapie, Brad Walker, Thomas Wiedeman & Hanley Long (@Hdoublel14) - Bellwether Enterprise (BWE) (@BWE_Bellwether) LOAN AMOUNT: $76,800,000 LOAN TYPE: Refinance LOAN TERMS: five-year, fixed-rate loan NOTE: BWE arranged a $76.8 million loan to refinance The Mav Channelside, a 324-unit apartment community in Tampa, using Fannie Mae’s Near-Stabilization Execution. The five-year, fixed-rate loan was secured for a joint venture led by Daniel Corp and covers a property built in 2022 with 90% occupancy.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$76,800,000.00

Monthly NOI$512,000.00
Monthly Debt Service$485,428.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00