Florida & Gulf Coast + Central Florida + Apartments | January 17, 2023

Loci Capital and Maifly Development have secured $92 million for the construction of Tampa Heights Apartments in Tampa, FL.

Loci Capital, Maifly Development Lock in $92M to Build Class A Multifam in Tampa

Tampa, FL-based Loci Capital and Maifly Development have secured $92 million for the construction of Tampa Heights Apartments, a 321-unit, mixed-income Class A apartment community located in Tampa, FL.

The community will include 32 income-qualifying units for residents earning no more than 80 percent of the area’s median income.

Michael Weinberg, Rebecca Van Reken and Alec Fox of Berkadia structured the capital stack on behalf of Loci Capital, a real estate private equity firm, and Maifly Development, a Pennsylvania-based, real estate development firm. U.S. Bank provided the senior debt, and Marble Capital provided the preferred equity.

“Tampa is one of the hottest commercial real estate markets in the country right now,” said Weinburg. “Nearly every asset class is performing well throughout the region but it’s led by the multi-family market.”

Tampa Heights Apartments will site 2.45-acre site at the northeast corner of North Florida Avenue and East 7th Avenue, approximately 10 minutes from Downtown Tampa.

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Berkadia's Weinberg

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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