Berkadia Arranges Loan for Acquisition of Apartments in Palm Harbor, Florida
Tampa, Fla. (Oct. 26, 2023) – Berkadia announces it has arranged the financing for Eagle Property Capital to acquire The Boot Ranch, a 432-unit apartment community in Palm Harbor, Florida. Senior Managing Director Mitch Sinberg, Managing Directors Brad Williamson, Matthew Robbins and Scott Wadler, and Vice President of Originations Abigail Beauchamp of Berkadia South Florida secured the financing on behalf of Eagle Property Capital, a private equity real estate firm based in Miami, Florida.
Fannie Mae provided the seven-year, fixed-rate loan with full-term interest only.
“Eagle Property Capital’s addition of The Boot Ranch is a noteworthy complement to the firm’s growing portfolio of properties,” said Williamson. “With a broad presence across central Florida, the acquisition serves as a testament to the firm’s investment thesis and the strong yields found in secondary markets such as Tampa Bay.”
Located at 1350 Seagate Drive, The Boot Ranch offers one-, two-, three- and four-bedroom apartments that range from 633 square feet to 1,456 square feet. Individual amenities feature wood-inspired flooring, spacious walk-in closets, ceiling fans in every room, LED light fixtures, modern energy efficient appliances, white quartz countertops, in-home full-size washer and dryer and screened in patios or balconies. The pet-friendly community amenities include two resort-inspired pools with a sundeck, 24-hour gym, tennis court, basketball court, playground, an outdoor grilling station, private off-leash dog park, reserved boat and trailer parking, an auto detailing center and 24-hour emergency maintenance.
Located in the heart of Palm Harbor, The Boot Ranch has easy access to US Highway 19 and is close to Bay Care Medical Facilities, Tampa International Airport, The Shoppes at Boot Ranch and John Chesnut Sr. Park.