Copperline Partners Secures $69 Million Refinance Loan For Multifamily Properties In Florida

Two multifamily properties located at 8421 Del Lago Circle and 8798 Northwest 38th Street were involved in a refinance transaction, with a loan amount of $69,000,000. The properties are situated in the Tampa and Sunrise markets and secured financing through a loan provided by Citibank featuring a sub-6% fixed rate and a five-year, full-term interest-only structure.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $69,000,000
• Lender: Citibank
• Landlord: Copperline Partners
• Brokers: Ariel Taieb & Carol Shelby - Meridian Capital Group
• Loan Type: Refinance

Meridian Capital Group played a pivotal role in arranging the refinancing for Copperline Partners. Brokers Carol Shelby and Ariel Taieb represented the borrower, leading negotiations and structuring the financing to effectively align proceeds and execution, particularly given the varying asset profiles amid a fluctuating capital markets environment.