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Florida & Gulf Coast  + Central Florida  + Finance  | 
Campus Palms Apartments near USF in Tampa, FL

Rittenhouse Secures $33M Bridge Loan for Apartments near USF’s Tampa Campus

Rittenhouse Capital Advisors has secured a bridge loan for the acquisition of Campus Palms Apartments, a 232-unit, 570-bed student complex near the University of South Florida main campus. The acquisition bridge loan was sourced through a national debt fund that provided strong leverage and a 3-year loan term with a low floating rate.   

Rittenhouse sourced the loan for College Town Communities, which specializes in the development and management of student apartment buildings. The developer’s portfolio houses approximately 4,000 students.

The project, constructed in 1971, comprises 23 apartment buildings with one-, two- and three-bedroom floor plans located less than a mile from campus. College Town Communities plans on upgrading the overall project with unit and common area improvements and intensive management. Property amenities include pools, sundecks, fitness center and a clubhouse. The property also offers parking and direct access to each unit.

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Rittenhouse Capital Advisors

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 he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition