NKF Arranges $64M Sale of MF Portfolio in Tampa

Posted By: Krystal Humphrey Industry News ,


NKF Arranges $64M Sale of MF Portfolio in Tampa

NKF multifamily arranged the $63.7-million sale of a two-property, 454-unit multifamily portfolio in Tampa-St. Petersburg.

The properties include Runway Bay and Twin Lakes, which are both located in Pinellas County. Originally constructed in 1984 and 1986 respectively, the properties have received significant capital improvements.

Patrick Dufour and Ryan Crowley of NKF represented the sellers, Kislak Organization and Cottonwood Residential, in the transaction. The portfolio was acquired by JV partners TruAmerica Multifamily and RSE Capital Partners. In addition, Mitch Clarfield and Ryan Greer of HFF arranged 10-year, fixed rate financing for each property on behalf of TruAmerica through Freddie Mac.

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