ORLANDO—Johnson Capital is getting multifamily transactions funded in Florida. The company recently represented a Southern Calif.-based real estate investment and development firm targeting the multifamily, office and retail sectors on $75 million worth of financing.

"Our sponsor was looking for the right strategic partner with a big appetite for B and C quality apartments on a nationwide basis," Neil Bane, principal and head of the Equity Division of Johnson Capital in the New York City office, said in a statement. Johnson Capital secured “off the radar” equity to fund nine multifamily deals across Florida and Texas.

Specifically, Johnson Capital arranged a strategic partnership that helped its client tap into significant equity contribution for the acquisition while securing both fixed and floating rate debt for the nine properties.

Johnson Capital secured debt financing totaling $48.6 million. Loan proceeds included $35.8 million of Fannie Mae loans for the acquisition of five multifamily properties in Tampa and two in Orlando, as well as $12.8 million in bridge financing for two multifamily complexes in Pasadena, Texas. Johnson Capital placed the financing with Centerline Capital in New York.

The seven properties acquired in Tampa and Orlando span 1,271 units. The loan terms for these include a 10-year fixed rate with a two-and-a-half year interest-only period and a 25-year amortization schedule.

“There is certainly more eager bridge capital available for turnaround assets now than there even was a year ago,” HFF senior managing director Paul Stasaitis tells GlobeSt.com. “I think that’s going to help drive a little bit more competition in the market. With CBMS, we’ll have to see how it plays out. The good news is since the correction in August rates have been coming down from a high of like 6.25. We locked rate recently to the low 5s. So that’s a big move.”