MOC Secures $14M Refinancing for West Tampa Student Housing Property

MOC Secures $14M Refinancing for West Tampa Trainee Housing Residential Or Commercial Property

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Realty capital company Mark One Funding (MOC) has protected a $14 million finance to re-finance West River Flats, a 13-unit multifamily residential or commercial property in West Tampa fl.

Located at 1545 Spruce Balcony in the West Tampa submarket, the area predominantly houses pupils from the University of Tampa fl and also USF’s College of Medicine as well as a mix of functioning professionals with jobs based in the bordering significant task markets. Integrated in 1962, the totally restored neighborhood includes a device mix of one-, 2- and three-bedroom devices. Amenities consist of a pool, fenced pet park and big yards.

Mark One Funding secured the elderly financial debt in support of the undisclosed customer. In addition, the team structured preferred equity as a compliment to the entire resources stack. Gotten by foreign sponsorship, the finance was structured with a 65% loan-to-value, 30-year amortization routine, as well as non-recourse financing.

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