A joint venture between Grandview Partners and Crosland Southeast announced that it received $40 million in construction financing for the development of Evelyn City Lofts apartments located in Tampa, Fla. First Citizens Bank’s Real Estate Finance group, part of the CIT division, provided the financing.
"The outstanding location of this property and the increasing demand for residences in this market made this an attractive investment," said Yates Dunaway, senior vice president of Crosland Southeast. "We appreciated the expertise of First Citizens Bank's Real Estate Finance group in providing the financing for this project."
The to-be-built multifamily apartment complex, located in the emerging Seminole Heights neighborhood, will consist of 245 residential units, including 25 affordable housing units and a five-story covered parking garage. It will also feature a fully amenitized community with a clubhouse, common area, fitness center, business center and resort-
