Joint Venture Equity Secured For $36M Multifamily Asset In Saint Petersburg

A joint venture equity deal was closed for a multifamily property located at 11401 Martin Luther King Jr. Street in Saint Petersburg. The deal was secured by JV Equity & Structured Capital Group from Berkadia, with representatives Chinmay Bhatt, Noam Franklin, and Cody Kirkpatrick. The transaction took place on November 6, 2020. The property is owned by Stoneweg US LLC and is financed by a life insurance company.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $36,000,000
• Address: 11401 Martin Luther King Jr. Street
• Market: Saint Petersburg
• Lender: A Life Insurance Company
• Landlord: Stoneweg US LLC

The JV Equity & Structured Capital Group, represented by Chinmay Bhatt, Noam Franklin, and Cody Kirkpatrick, successfully closed the deal for the multifamily property. The joint venture equity amount involved in the transaction was $36,000,000. The property is located at 11401 Martin Luther King Jr. Street in Saint Petersburg and is owned by Stoneweg US LLC. The financing for the deal was provided by a life insurance company.