A $230 million recapitalization of an apartment community portfolio includes three local properties: in Port Richey, Fort Myers and Brandon.
The financing package is for six properties made up of 1,600 units owned in a joint venture between Slate Asset Management and ZMR Capital.
The Newmark Group, a commercial real estate lender, says the portfolio was on the market but a reevaluation resulted “in a capital restructuring that extended ZMR’s business plan, introduced a long-term institutional partner and injected fresh equity to support a five-year hold strategy.”…