October 8, 2019 Comments (0) Views: 450 Florida News, Gulf Coast, Top Florida

Berkadia Arranges Sale of 288-Unit MF Community in Panama City

Berkadia arranged the sale and financing of Vantage at Panama City Beach, a newly-built, 288-unit garden-style multifamily community in Panama City Beach. The sales price was undisclosed.

Located at 7150 Highway 98, the property was built in 2018 and consists of one-, two- and three-bedroom units in three-story buildings located on a 20-acre lot. The gated community, which is located three miles from the beach, includes resort-style amenities such as a clubhouse, business center, covered pool lounge, outdoor grills, large and small breed dog parks, dog wash facilities and a 24-hour fitness center.

David Etchison of Berkadia’s Birmingham office represented the undisclosed seller in the transaction. Additionally, Mitch Sinberg and Matthew Robbins of Berkadia’s Boca Raton office secured $42.6 million in acquisition financing on behalf of the buyer, Cardone Capital. Terms of the Freddie Mac financing included a 10-year, fixed-rate loan with five years of interest only payments.

Connect With Berkadia’s Etchison

Connect With Berkadia’s Sinberg

Connect With Cardone Capital


Subscribe to Connect Daily Florida

For comments, questions or concerns, please contact David Cohen

Tags:

Comments are closed.

Send this to a friend