Continental Realty Corporation Acquires Multifamily Asset From 29th Street Capital For $82M

The transaction involves a multifamily property located at 15350 Amberly Drive in the Tampa market. The sale price for this asset was $82,000,000, and the property comprises 315 units, resulting in a price per unit of $260,317. A loan amount of $52,515,000 was secured for this transaction, facilitated by Freddie Mac as the lender.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $82,000,000
• Units: 315
• Price Per Unit: $260,317
• Loan Amount: $52,515,000
• Buyer: Continental Realty Corporation
• Seller: 29th Street Capital
• Brokers: Matt Mitchell, Jason Stanton, Chris Burtner, Tyler Swidler & Brett Moss - Berkadia
• Mortgage Brokers: Mitch Sinberg, Scott Wadler, Jared Hill & Bryan Brown - Berkadia
• Lender: Freddie Mac

The key individuals involved in this transaction include Matt Mitchell, Jason Stanton, Chris Burtner, Tyler Swidler, and Brett Moss, who represented the brokers from Berkadia. The financing was arranged by mortgage brokers Mitch Sinberg, Scott Wadler, Jared Hill, and Bryan Brown, also from Berkadia, reflecting strong collaboration among these entities in the successful closure of the deal.