Tampa Apartments Land $8M Fannie Mae Acquisition Financing
Temple Terrace, Fla. — A 96-unit market rate multifamily rental community in the north Tampa suburb of Temple Terrace has landed $8,000,000 in acquisition financing courtesy of Fannie Mae.
Seastone Luxury Apartments is located at 11050 Le Jardin Circle in Temple Terrace. Arranged by Minneapolis-based seller/services Dougherty Mortgage, the loan featured a 10-year term, 30-year amortization and 4 years of interest only. The borrower was Seastone Investors LLC.
Rents at the property are in the $1,100 range, according to Apartments.com. Amenities include a pool, sundeck, grill and picnic area. Units feature stainless steel appliances, granite countertops and washer/dryers.