CBRE Arranges Acquisition Financing for Two Multifamily Properties in Tampa’s Seminole Heights Neighborhood

CBRE Capital Markets’ Debt & Structured Finance team has secured $50,290,000 in acquisition financing for two multifamily properties, HITE and Notch, both located in Tampa’s historic Seminole Heights neighborhood. The portfolio sold for $60,500,000.

Eric Fixler and Chandler Kaye with CBRE worked on behalf of the borrower, a private investor. Ready Capital provided the senior loan with additional proceeds to complete tenant improvements for the ground floor retail and other capital improvements.

“The Seminole Heights neighborhood has quickly become one of Tampa's most popular neighborhoods and the area is perfect for families and active singles which is still unique and affordable. We were able to secure multiple options for the financing due to the unique design of the assets and location. Both properties provide easy access to downtown Tampa and major employment centers,” said Eric Fixler, an executive vice president with CBRE.

Located at 6006 N. Florida Ave., the HITE is a five-story apartment complex totaling 81 units. The property features studio, one-, and two-bedroom units averaging 764 square feet with Quartz countertops, in-wall USB ports, designer light fixtures, and walk-in closets. Community amenities include elevator service, an outdoor grilling station, pet wash station, bike storage, covered parking, and 6,771 square feet of ground floor retail.

Located at 6307 N. Nebraska Ave., the Notch is a four-story apartment complex totaling 112 units. The property features studio, one- and two-bedroom units averaging 780 square feet with Quartz countertops, in-wall USB ports, designer light fixtures, and walk-in closets. Community amenities include a fitness center, private garages, bike storage, a pet spa, and 1,144 square feet of ground floor retail.