Bedford Affordable Housing Foundation Purchases 416-Unit Anthem Clearwater For $70 Million From Ashcroft Capital

The transaction involved the sale of the 416-unit Anthem Clearwater apartment complex located at 2770 Roosevelt Boulevard in Clearwater, Florida, for a total price of $70 million, which equates to $168,269 per unit. The asset type is classified as multifamily.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $70,000,000
• Units: 416
• Price Per Unit: $168,269
• Buyer: Bedford Affordable Housing Foundation
• Seller: Frank Roessler - Ashcroft Capital
• Senior Debt: $59.3 million
• Subordinate Debt: $12.75 million

Bedford Affordable Housing Foundation was represented by key stakeholders in the acquisition from Ashcroft Capital, which was led by Frank Roessler. The financing for this deal included a Public Finance Authority bond issue, which effectively replaced a prior Freddie Mac loan amounting to $50.98 million.