Loci Capital & Maifly Development Secures $92M Construction Loan And Preferred Equity For Multifamily In Tampa Heights

The multifamily property located at 1802 N Morgan Street in Tampa Heights, FL 33602 has been involved in a recent loan transaction. The property consists of 321 units and is situated in a desirable market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $92,000,000
• Lender: U.S. Bank
• Developer: Loci Capital & Maifly Development
• Developer's Representative: Michael Weinberg, Rebecca Van Reken, Alec Fox & Edmund Aramayo - Berkadia
• Preferred Equity Provider: Marble Capital
• Loan Type: Construction Loan & Preferred Equity

In addition to the lender and developers, the loan transaction also involved Marble Capital as the preferred equity provider. The loan amount for this transaction was $92,000,000 and included a combination of construction loan and preferred equity.