Joint Venture Lands $44M Refi for Tampa-Area Apartments
Mast Capital and Rockpoint obtained $44 million in refinancing for The Harlow, a 248-unit, Class A, garden-style multifamily community in Wesley Chapel, Florida.
Berkadia’s Mitch Sinberg, Scott Wadler, Matthew Robbins, Brad Williamson, and Bryan Brown of Berkadia’s Miami and Boca Raton offices arranged the financing on behalf of the joint venture.
Walton Street Capital provided the three-year, floating-rate loan, which refinances the property’s existing construction loan and provides the sponsors with the flexibility to pursue a sale or permanent financing over the coming years. The property was 98% occupied at closing.
Completed in 2024, The Harlow is a four-story, Class A multifamily community situated on approximately 16.24 acres at 5101 Bruce B Downs Blvd. The 248-unit property offers a mix of one-, two-, and three-bedroom residences averaging approximately 1,006 square feet, complemented by a comprehensive amenity program that includes a pool and sundeck, a fitness studio, a walking trail, EV charging stations, and detached garages, and a clubhouse with co-working spaces and private offices.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout