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Natixis Provides Acquisition Financing for M South Apartments, Tampa, Florida
Natixis has originated a floating rate loan to The Accend Companies for the acquisition of a new, Class A multi-family property, located at 5110 S. Manhattan Avenue in Tampa, Florida.
The newly constructed, garden-style multi-family property contains 288 units located in eight residential buildings with a mix of one-, two- and three-bedroom options. The common amenities include a clubhouse lounge, outdoor resort pool, outdoor kitchen and grilling area, bocce ball court, fire pit, detached garage parking and a dog run. M South is located approximately four miles from Downtown Tampa, accessible by the Selmon Expressway, and less than a mile from MacDill Air Force Base.
The Accend Companies, based in Chicago, Illinois, acquires, owns and operates a portfolio of multi-family properties near vital US military installations. They provide their tenants, military, corporate and private, a range of rental choices and lease flexibility.
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.4 billion, a Basel 3 CET1 Ratio(1) of 11.5% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in and including current financial year’s earnings and accrued dividend (based on a 60% pay-out).
Figures as at 30 September 2019.
