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Florida & Gulf Coast  + Central Florida  + Finance  | 

Transcontinental, Abode Refi New Port Richey MF

Transcontinental Realty Investors Inc., Southern Properties Capital and Abode Properties completed the refinancing of Sawgrass Creek apartments in New Port Richey, FL. The community north of St. Petersburg blends nature, beaches, shopping, restaurants, and culture with a small-town feel.

Berkeley Point Capital LLC, now NKF, originated the loan that is insured by Freddie Mac. Due to mature in June, the new loan is for seven years and the LIBOR offered rate reduced from + 3% down to + 2.31%.

Sawgrass Creek Phase II is more than 96% leased and is located at 8800 Lazy River Loop. The property offers modern amenities such as a resort-style pool and clubhouse, state of the art fitness center, walking paths with tot lot, bocce ball court, and a fire pit with benches. The property also offers 66 personal garages, rentable storage units, and covered bike storage.

Transcontinental’s Daniel Moos says, “We are very pleased to have achieved this closing, given the current pandemic and stay-at-home mandates. This achievement further demonstrates the strength of our portfolio and expertise of our team of professionals.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.