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Florida & Gulf Coast  + Central Florida  + Finance  | 
Marcus & Millichap Capital Corporation arranged $15.06 million for the refinancing of Mint House at Metro St. Petersburg

Mint House at Metro St. Petersburg Refinanced for $15M

Marcus & Millichap Capital Corporation arranged $15.06 million for the refinancing of Mint House at Metro St. Petersburg, a multifamily property located at 77 11th Street North in St. Petersburg, FL.

Robert Bhat, senior managing director, capital markets based in MMCC’s Miami office, secured the financing.

“This is a newly built apartment building on a long-term lease with a short-term rental operator, Mint House,” said Bhat. “Obtaining financing for a niche product was a challenging task in today’s environment, yet we were able to secure competitive terms given the borrower’s experience and the property’s excellent location in Downtown St. Petersburg. The loan-to-value was 65% with interest only for the first 24 months, followed by a 25-year amortization.”

The 100-key complex is located near the arts district of St. Petersburg, close to several restaurants, museums, and retail shops. St. Pete-Clearwater International Airport is within a short drive.

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About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

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