California Partners Acquire Carrollwood Community with $64M through Berkadia
Berkadia has arranged $64.1 million financing for the acquisition of 325 units at Arbors at Carollwood, a core-plus opportunity within the Carollwood submarket of Tampa, FL.
Mitch Sinberg, Matthew Robbins, Brad Williamson and Scott Wadler of Berkadia secured the acquisition financing on behalf of the buyer, a Los Angeles-based joint venture between TruAmerica Multifamily and funds managed by Oaktree Capital Management, L.P.
A bank provided a floating-rate loan with a five-year term.
“The Arbors at Carollwood offered investors a unique opportunity to acquire the premiere multifamily asset in one of Tampa’s top performing submarkets, where there is no new apartment supply,” said Robbins.
Arbors at Carollwood is a garden-style apartment community consisting of 15 three-story buildings and a clubhouse located on 56 acres at 3939 Ehrlich Road. Amenities include a resort-style pool; cabanas, fire pits, and summer kitchen; fitness center; bark park with agility equipment and pet spa, WiFi café, business center and garages.
- ◦Sale/Acquisition