Boca Raton-based Altman Companies obtained $6.5 million of mezzanine financing for construction of an eight-story residential building in Tampa.
Maryland-based Federal Capital Partners provided the mezzanine financing. PNC Bank provided senior financing for the development.
The bank and the privately held real estate investment firm are financing the construction of Altman Companies‘ Altis Grand Central in Tampa.
The site of the 314-unit residential development is 548 West Grand Central Avenue in Tampa.
The location is within walking distance of the University of Tampa and a retail center called Oxford Exchange.
Federal Capital Partners, which recently opened a Florida office in Miami, has invested six Central Florida developments, including Altis Grand Central, in the last 18 months.