redIQ Deal Highlight: ZMR Capital Acquires The Reserve at Brandon
redIQ Deal Highlight: ZMR Capital Acquires The Reserve at Brandon
redIQ would like to congratulate the team at ZMR Capital for finalizing the acquisition of The Reserve at Brandon in Tampa Bay for $207 million. The 982-unit community was purchased from Northend Equities in a deal brokered by Berkadia. ZMR Capital received funding from MF1 with a 5-year floating-rate bridge loan. The asset was last sold in 2019.
The Tampa market is outperforming other Florida metro markets, buoyed by interest from institutional buyers. Other recent transactions in the area include Core Spaces acquisition of ULake and Axonic Properties acquisition of Campus Lodge.
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