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Florida & Gulf Coast  + Central Florida  + Finance  |  September 27, 2022
Dasmen Residential has locked in $95.2 million in financing for a five-property, 1,011-unit multifamily portfolio situated Orlando and Tampa, FL.
Lisa McDuffie
By: Lisa McDuffie

Dasmen Residential Secures $95M Refi for Five-Property, 70s-Era Multifam Portfolio

Dasmen Residential has locked in $95.2 million in financing arranged by Crossmark Capital for a five-property, 1,011-unit multifamily portfolio situated Orlando and Tampa, FL.

The loans were secured at a 4.63% fixed rate over a ten-year term, with interest-only payments for the first five years, and financed through a Freddie Mac loan provided by Greystone.

Dasmen had acquired the portfolio in March of 2021 for $101 million. Since that time, the firm has undertaken substantial improvements at all five sites:

Orlando

  • Rosala West, 200 units, 4500 Silver Star Road, built in 1969
  • Kara West, 188 units, 3024 South Rio Grande Avenue, built in 1972
  • Stella West, 192 unit, 4757 Silver Star Road, built in 1972

Tampa

  • Vera North, 319 units, 1250 Skipper Road, built in 1972
  • Arvina North, 112 units, 13101 Aarans Pond Drive, built in 1972

Photo: Kara West

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Crossmark Capital

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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