Westside Capital Scores $25M Refi for Tampa Community

The borrower acquired the 240-unit property in 2018 from Michaelson Group for $21.2 million.
Buena Vista. Image courtesy of Berkadia

Westside Capital Group has received $25 million in refinancing for Buena Vista, a 240-unit, garden-style community in the Wellswood neighborhood of Tampa, Fla. Berkadia arranged the 12-year, fixed-rate Fannie Mae loan.

Built in 1985, Buena Vista comprises a mix of one- and two-bedroom units, with an average size of 700 square feet. Common-area amenities include a clubhouse, fitness center and swimming pool. According to Yardi Matrix, Westside acquired the community in 2018 from Michaelson Group. The property traded for $21.2 million and the sale was subject to a $19.4 million loan, provided by The Bancorp Bank.

Located at 4610 N. Armenia Ave., on 5 acres, the 10-building property is 3 miles from Tampa International Airport. Buena Vista is also 1 mile from St. Joseph’s Children’s Hospital and 2 miles from Raymond James Stadium. 

Berkadia’s financing team included Senior Managing Director Charles Foschini and Managing Director Christopher Apone. In July, the duo arranged $14.4 million in financing for the recapitalization of a 100-unit Miami community.