Neil Gehani Of Trilogy Real Estate Group Secures $107.7 Million Loan For 289-Unit Azalea Apartments
2633 Azalea Garden Pl
$107,700,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 9, 2026
AI
The property asset involved in this transaction is a multi-family community located at 2633 Azalea Garden Pl in Tampa, FL. This asset comprises 289 units and was acquired for $85.75 million in 2023. The financing secured amounts to $107.7 million, according to public records.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $107,700,000
- Address: 2633 Azalea Garden Pl
- Market: Tampa, FL
- Units: 289
- Lender: Acre Credit Fund II JP LLC
- Landlord: Neil Gehani - Trilogy Real Estate Group
The deal involves significant individuals and entities, including Neil Gehani representing Trilogy Real Estate Group as the landlord. The lender for this transaction is Acre Credit Fund II JP LLC, which provided financing for the community that was completed in 2024 with undisclosed purposes for the new financing.
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93