Berkadia Provides $41.4M Acquisition Loan for Apartment Community in Tampa

by John Nelson

TAMPA, FLA. — Berkadia has provided a $41.4 million loan for the acquisition of Bainbridge Ybor City, a 240-unit apartment community in Tampa’s Ybor City Historic District. Mitch Sinberg and Matthew Robbins of Berkadia’s South Florida mortgage banking team originated the Freddie Mac loan on behalf of the borrower, GMF Capital. Berkadia provided the 10-year, floating-rate loan, which features five years of interest-only payments. Wellington, Fla.-based Bainbridge Cos. developed Bainbridge Ybor City in 2017. The property is located at 1512 E. 12th Ave. in Ybor City, which is the only neighborhood on Florida’s west coast to be designated a National Historic Landmark District.

The property features studio, one- and two-bedroom floor plans. Community amenities include a pool and sundeck, 24-hour fitness center, yoga studio and personal training room, clubroom with arcade and catering kitchen, elevator access and secure parking garage and greenways.

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