Insula Companies Secures $26M Loan For Multifamily Properties In Sarasota & Lakeland

The Insula Companies, a Sarasota-based landlord, recently secured a loan for the recapitalization of two multifamily properties located at 3400 Tyne Lane in Sarasota and 1475 Woodlake Drive in Lakeland. The loan amount totals $26,000,000 and is split between A Bank and Freddie Mac. A Bank provided an $8.15 million, five-year, fixed-rate loan with three years of interest only for the property known as Gables at Honore. On the other hand, Freddie Mac provided an $18 million, seven-year, fixed-rate loan with five years of interest only for the Lodge at Woodlake.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $26,000,000
• Lender: A Bank & Freddie Mac
• Landlord: Insula Companies
• Brokers: Mitch Sinberg & Matthew (Matt) Robbins - Berkadia
• Loan Type: Recapitalization
• Loan Terms: A bank provided the $8.15 million, five-year, fixed-rate loan with three years of interest only for Gables at Honore, and Freddie Mac provided the $18 million, seven-year, fixed-rate loan, with five years of interest only for Lodge at Woodlake

Mitch Sinberg and Matthew (Matt) Robbins from Berkadia represented the Insula Companies in this transaction as brokers.