CBRE has arranged a $100-million joint venture equity partnership and acquisition financing for Bainbridge Ybor City, a 240-unit Class A multifamily in Tampa, FL. The property was purchased for $90.7 million with additional proceeds for capital improvements.

Eric Fixler, Chandler Kaye and Chris Smiles with CBRE worked on behalf of the borrower, a private investor. Square Mile Capital provided a $67.6-million senior loan, and CBRE secured $32.6 million in equity provided by an international private equity group.

“The investment into this Class A asset represents a commitment to the core downtown Tampa multifamily market made by our client and their institutional partner,” said Fixler. “Our ability to secure a strong institutional equity partner with superior financing demonstrates the depth of the Tampa market and continued expectation for outstanding performance.”

The 2018-constructed, four-story property includes a mix of studio, one-, and two-bedroom units, averaging 870 square feet.