Robbins Property Associates has locked up $24 million in acquisition financing for Lakeside Apartment Homes in Brandon, Florida. Berkadia sourced the funding through 10-year, floating rate Freddie Mac loan with five years of interest only payments. Built in 1985, Lakeside Apartment Homes is a 228-unit apartment community located at 529 South Parsons Avenue. “Hillsborough County is expected to see total non-farm employment expand by 2.8 percent, making value-add properties in suburban communities compelling opportunities for investors,” said Senior Managing Director Mitch Sinberg, Berkadia “As effective rents are anticipated to advance by 2.0 percent this year, our ability to put together a loan that would complement the growth surrounding Brandon will allow the buyer to see positive returns over an extended period of time.”
