Florida & Gulf Coast + Apartments | July 10, 2019

NKF Arranges $64M Sale of MF Portfolio in Tampa

NKF multifamily arranged the $63.7-million sale of a two-property, 454-unit multifamily portfolio in Tampa-St. Petersburg.

The properties include Runway Bay and Twin Lakes, which are both located in Pinellas County. Originally constructed in 1984 and 1986 respectively, the properties have received significant capital improvements.

Patrick Dufour and Ryan Crowley of NKF represented the sellers, Kislak Organization and Cottonwood Residential, in the transaction. The portfolio was acquired by JV partners TruAmerica Multifamily and RSE Capital Partners. In addition, Mitch Clarfield and Ryan Greer of NKF arranged 10-year, fixed rate financing for each property on behalf of TruAmerica through Freddie Mac.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.