Source: rebusinessonline.com
Cortona South Tampa, a 300-unit multifamily property located at 5145 S. Dale Mabry Highway in Tampa, just received construction funding. The gated development will feature a two four-story apartment buildings and 20 two-story townhome buildings, as well as a 6,000-square-foot clubhouse with a resort-style swimming pool and recreation areas. The three-year loan has a two-year extension option through a regional bank. The loan features interest-only payments for the primary term and a 25-year amortization schedule for the extension.