Excerpted from CIJ USA story.
S.N.S Property Management, the US division of R.O.I Capital Group, has acquired a 111-unit residential property in Largo, Florida, from Milbrook Properties for $13.4m. Located 20 miles west of Tampa Bay, the investment features a swimming pool, basketball court and playground as well as parking for 250 vehicles. The new owner is planning interior and exterior renovations of the property, which was 96.4 percent leased at the time of the sale. The deal was completed with a $9.5m Freddie Mac loan originated by Berkadia Commercial Mortgage. Franklin Street represented both parties in the transaction, secured the acquisition financing and insured the asset.