September 19, 2016
Greystone provided a $45 million bridge loan to help Illan Investments acquire the 444-unit Tampa Woods Apartments in Tampa, FL. Illan acquired the property from Camden Property Trust.
The non-recourse, interest-only loan closed in 28 days. It included a two-year term with two six-month extensions. Donny Rosenberg of Greystone arranged the financing.
Tampa Woods Apartments, at 5207 Belle Chase Circle in Tampa’s Westshore District, is a Class A apartment complex with 38 buildings. The property offers one-and two-bedroom units, and amenities including two swimming pools and a fitness center.
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