ACRES Capital Provides $56.9M Acquisition Loan For Multifamily Property In Tampa

A multifamily property located at Hanley Place, 7315 W Hanna Avenue in Tampa, has recently been involved in a closed transaction. The property, under the ownership of ZMR Capital, was the subject of an acquisition loan provided by ACRES Capital. The loan, amounting to $56,890,000, is a 3-year, floating-rate loan with full interest-only payment and extension options. It includes $49.7 million in initial funding, with an additional $7.18 million allocated for future capital improvements. The transaction took place on July 30, 2021.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $56,890,000
• Address: Hanley Place - 7315 W Hanna Avenue, Tampa
• Market: Tampa
• Lender: ACRES Capital
• Landlord: ZMR Capital
• Brokers: Brad Williamson & Wesley Moczul - Berkadia
• Loan Terms: 3-year, floating-rate loan with full interest-only and extension options. Includes $49.7 million in initial funding, with $7.18 million allocated for future capital improvements.
• Loan Type: Acquisition

Brad Williamson & Wesley Moczul of Berkadia served as the brokers in this transaction, representing the parties involved. They played a crucial role in facilitating the deal and ensuring its successful completion.