Berkadia Secures $32.23M Acquisition Loan For Multifamily Property In Tampa

The multifamily property located at 7417 Palmera Pointe Circle in Tampa spans 274,941 square feet with a total of 248 units. The property was acquired by Axonic Properties. The financing for this acquisition was facilitated by Santander, with Berkadia securing a non-recourse loan totaling $32,230,000. The loan includes $25 million of initial funding and an additional $7.232 million to support the sponsor's business plan.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $32,230,000
• Units: 248
• Square Footage: 274,941
• Address: 7417 Palmera Pointe Circle, Tampa
• Lender: Santander
• Landlord: Axonic Properties
• Brokers: Mitch Sinberg, Brad Williamson, Matthew Robbins & Scott Wadler - Berkadia
• Loan Type: Acquisition Loan
• Loan Terms: Five-year term with $25 million initial funding and $7.232 million additional funding

The team behind the successful financing deal includes key individuals such as Matthew Robbins, Mitch Sinberg, Brad Williamson, and Scott Wadler from Berkadia, who played crucial roles in securing the non-recourse loan and aligning its flexible structure with the sponsor's business plan. The collaboration between Santander, Axonic Properties, and the broker team led to a well-structured financial arrangement that supported the acquisition of the multifamily property in Tampa.