Avesta Acquisition has acquired the Mainsail South Residences in South Tampa. Built in 1984, the multifamily property is located on S. Himes Ave., near Gandy Expressway and Dale Mabry Highway. Avesta plans an interior and exterior renovation of all units, as well as upgrades of the common areas. Berkadia negotiated the sale and arranged acquisition financing for the residential community, which was 95 percent occupied at the time of sale. The 10-year, $25 million acquisition loan features a 2.56 percent floating interest rate and a 30-year amortization schedule. The sellers of the property were Mainsail Villas II, LLC and Mainsail Villas Holdings LLC.
