BRANDON, FLA. — Berkadia has secured $28.3 million in acquisition financing for two multifamily communities in Brandon. Mitch Sinberg and Brad Williamson of Berkadia secured a $15.7 million loan for Avenue at Creekbridge, a 112-unit apartment community, and a $12.6 million loan for Westwood at 60, an 88-unit apartment community. Berkadia is providing two Freddie Mac loans with seven-year terms, interest-only payment periods and fixed interest rates.
Bayshore Investment Partners, a Miami-based private equity firm, acquired Avenue at Creekbridge for $22.5 million and Westwood at 60 for $18.1 million. The seller(s) was not disclosed.
Built in 1987, Avenue at Creekbridge offers two- and three-bedroom apartments ranging from 950 to 1,175 square feet. Units feature vaulted ceilings, wood-plank vinyl flooring, stainless steel appliances, carpeted bedrooms, walk-in closets, stand-up showers and lake or pool views. Community amenities include a fitness center, bark park, swimming pool, business center, poolside grilling areas, a tennis court and a private fishing dock. Located at 1002 Creekbridge Road, the property is situated 3.7 miles from downtown Brandon and about 13.3 miles from Tampa. Avenue at Creekbridge was rebranded to Creekbridge Crossing Apartments.
Built in 1986, Westwood at 60 offers one-, two- and three-bedroom apartments ranging from 1,120 to 1,855 square feet. Individual units feature vaulted ceilings, wood plank vinyl flooring, stainless steel appliances, gooseneck faucets, carpeted bedrooms, walk-in closets, stand-up showers and lake or pool views. Community amenities include a fitness center, swimming pool, grilling area, business center, package services, mobile account management and rent payments and Amazon Hub lockers. Westwood at 60 was rebranded to Westwood Crossing Apartments. Located at 1212 Askew Drive, the property is about 20.6 miles from Tampa International Airport.