McKinley Secures $6,404,000 in Long-term Financings with KeyBank and Fannie Mae for Hyde Park Boutique Multifamily RedevelopmentMarch 29, 2018
HYDE PARK, FLORIDA - The McKinley Companies announced today the closing of $6,404,000 in long-term financings with KeyBank and Fannie Mae for Soho Flats located in Hyde Park, Tampa, Florida. The 15-year financings were originated by KeyBank, and they represent the next part of an approximately $200 million pipeline in similar financings that McKinley began with KeyBank and Fannie Mae over the past six months.
Soho Flats is part of the McKinley Hyde Park boutique collection of unique and historic apartment communities located in Hyde Park, Tampa, Florida. Soho Flats is a classic south beach style art deco concrete building shining with chic colors and style. In the center courtyard residents enjoy poolside living alongside an entertainment space with a wine bar, grill and fire pit lounge under historic Tampa oak trees. Soho Flats is tucked away in the walkable residential neighborhood of Bayshore Gardens within a few blocks of Bayshore Blvd and culinary curators such as the prestigious Bern’s Steakhouse.
“We have worked diligently to lock up all of our Multifamily debt going into this rising rate market,” offered Jim Willett, Senior Vice President & Managing Director – Finance. “We have only a few financings remaining to complete and then we will have all of our Multifamily debt fixed with either 15 or 35-year terms,” further added Willett.
McKinley today is the largest owner-operator of multifamily apartments in the Hyde Park market, spanning a total of 26 communities located throughout Hyde Park, South Tampa and the Westshore Marina District. McKinley has owned and operated multifamily apartment communities in Central Florida since 1982, and today is largest Multifamily owner-operator along the highly populated Interstate-4 Corridor between Orlando and Tampa. McKinley currently owns apartment communities in Orlando, Winter Park, Daytona Beach, Gainesville, North Redington Beach, South Pasadena, Clearwater, Gulfport, Hyde Park, South Tampa and Tampa.