Hillsborough townhouse community sold for $18 million

Berkadia has arranged an acquisition loan for a Miami real estate investment firm buying a build-to-rent community in Seffner. 

The loan to Bayshore Investment Partners is for $11.83 million and is for the purchase of Laurel Lakes, a 68-townhouse development. 

Berkadia says BIP bought the community, built last year, from D.R Horton, paying $265,000 per unit — $18.02 million. 

The five-year loan is through Fannie Mae and comes with a full-term interest-only amortization schedule at a fixed rate of 5.1%. 

Laurel Lakes is at 9281 Cape Verde Drive in the northern Hillsborough County suburb. Its units are all three bedrooms with two and a half bathrooms and come with an attached garage. 

According to the community’s website, there are two floor plans with a 1,463-square-foot model starting at $2,410 per month and a 1,464-square model starting at $2,290. 

Berkadia's Brad Williamson, Mitch Sinberg, Scott Wadler, Matthew Robbins and Kyle Ryan secured the financing.