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Florida & Gulf Coast  + Finance  |  January 21, 2021
David Cohen
By: David Cohen

Berkadia Secures $41M Acquisition Loan for Ybor City Apartments

Berkadia has arranged $41.3 million in acquisition financing for Bainbridge Ybor City, a 240-unit apartment community in Tampa’s Ybor City historic district.

Developed in 2017 by Bainbridge Cos., the property is located at 1512 East 12th Ave. The property features studio, one- and two-bedroom floor plans with hardwood-style flooring, chef-inspired kitchens with large center islands, stainless steel appliances and quartz countertops as well as in-suite washer & dryer. Amenities include a South Beach-style pool and sundeck, 24-hour fitness center, yoga studio, clubroom with arcade and a secure parking garage.

Mitch Sinberg and Matthew Robbins of Berkadia’s South Florida mortgage banking team secured the financing on behalf of the borrower, GMF Capital. Berkadia originated and Freddie Mac purchased, the 10-year, floating-rate loan with five years of interest only payments.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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