Berkadia, a distinguished leader in the commercial real estate sector, announces that it arranged a $56.62 million loan from Mesa West Capital to recapitalize The Easton Riverview, a 300-unit garden-style Class A multifamily community located in South Hillsborough County, approximately 30 minutes south of downtown Tampa, Florida.
Managing Director Scott Wadler and Senior Managing Director Mitch Sinberg of Berkadia Boca Raton and Miami, along with Vice President Bryan Brown of Berkadia Tampa, arranged the financing on behalf of the sponsors, a joint venture between Cross Lake Partners of New York, GreenPointe Holdings of Jacksonville, Florida and Rivers Residential LLC of Atlanta, Georgia.
Mesa West Capital’s Executive Director Russell Frahm and Vice President Brian Hahn provided a three-year, floating-rate loan. The deal closed on July 22.
“This financing allows the borrower to pay off its construction loan and have prepay flexibility to either sell or place permanent financing at an opportunistic time in the future,” said Wadler.
Community amenities at Easton Riverview include a pool with cabanas, 24-hour fitness center with yoga room, two dog parks and dog spa, dual EV charging stations, community club room, shuffleboard, storage units and car ports available for rent.
Conveniently located between I-75 and US-301, The Easton Review is the only apartment community located within the larger 932-acre Belmont mixed-use master-planned community, which features 1,930 single-family homes and townhomes by Lennar, along with an impressive mix of retail, schools and parks. The property is within walking distance to the Belmont Shopping Center and the Goddard School, an early development preschool, is planned just north of the property at the Belmont main entrance.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
