Franklin Street has closed a $2.7 million loan for Sun Garden Apartments, a 50-unit garden-style apartment complex located in St. Petersburg, Florida. Ben Miller and Casey Siggins, both directors of loan origination for Franklin Street’s Capital Advisor’s division, secured the loan on behalf of the out-of-state buyer. The 20-year loan includes a 4.85 percent fixed rate with a 30-year amortization.

“The sale represents continued interest from buyers all over the country to own in Florida,” Miller said. “Many investors are willing to pay healthy prices if the cash flow and financing is there to support the acquisition.”

Sun Garden Apartments is located at 4000 58th Street in historic Kenneth City. The 35,856-square-foot property offers studio, one-, two- and three-bedroom apartments and is in close proximity to Tyrone Mall and the Gulf of Mexico.

About Franklin Street: Franklin Street is a family of full-service real estate companies focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions—Real Estate, Capital, Insurance, Management, and Valuation—Franklin Street offers unmatched value and optimal solutions for clients nationwide. For more information on Franklin Street, please visit FranklinSt.com.