Tampa apartment owners get $38 million infusion

The owners of a 224-unit apartment complex in Tampa have refinanced the property and taken on an equity investor for a combined total of $38.35 million.

The community is the Pointe at Carrollwood, just off of Gunn Highway and near Dale Mabry Highway in the city’s northern suburbs.

Berkadia, which arranged the debt and equity recapitalization, says Miami-based Beacon Real Estate Group took out a five-year, $29.93 million loan on the community through Freddie Mac and obtained an equity investment from Atlantic Pacific Co. for $8.42 million.

The $38.35 million will go toward paying off a previous acquisition loan and upgrades.

Beacon paid $51.5 million for the property in 2022 and has since spent $3.6 million on capital improvements.

The firm was founded in 1967 and has more than 7,000 apartment units in its portfolio and 1 million square feet of office and retail properties, all in the Southeast.

Berkadia’s Scott Wadler, Matt Nihan, Matt Robbins, Brad Williamson and Mitch Sinberg negotiated the financing package for Beacon.

The Pointe at Carrollwood is 95% occupied.