TAMPA, FL—As the year comes to an end, investors are closing plenty of multifamily deals in Florida. Eastern Union Funding just brokered the trade of two multifamily properties in Tampa, FL. The sale price was $8.15 million.
“In under 60 days the sale and the financing were both on the table,” Jake Handelsman, director of Client Relations at Eastern, tells GlobeSt.com. “The structure of this deal was the foundation not only for value—but also punctuation of our continued stance as a trusted adviser with a national footprint.”
Handelsman advised the client through the multifamily purchasing process and negotiated the financing. He arranged a $6.113 million loan with Morgan Stanley. The 10-year loan carries a 4.45% interest rate without recourse.
Country Square Apartments is located at 8401 Aiken Court. Candlewood is located at 5958 Oak River Drive. Combined, the multifamily properties offer 209 units. The assets are located about a mile apart and were marketed as one purchase.
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