$8.5M Acquisition Loan on an Income-Restricted Ruskin Apartment Community

Orchard Park is the database's clearest look at affordable housing changing hands. The Ruskin community's rents are restricted to residents earning 50 to 60 percent of area median income, with three bedroom units from $1,200 a month and four bedrooms from $1,471 per the community's own site. On March 26, 2026 it sold for a recorded $11,333,000, and CBRE Capital Markets recorded an $8,468,000 mortgage the next day on a 121 month term due April 2036, for buyer Orchard Park Property Owner LP, a foreign limited partnership registered in Florida in November 2025 from a Greenwich, Connecticut address.

The community was built in 2002 on 9.45 acres, 89,518 square feet of two story buildings. On unit count the sources disagree and the conflict is reported as recorded: county data captures 16 units, while the community's longtime financing partner and the CDFI Coalition both describe 84 units, 41 three bedroom and 43 four bedroom, a figure consistent with the square footage. Amenities include a clubhouse, pool, playground, and a child care facility.

The debt history is a tour of how affordable housing actually gets financed. The 2001 origination stacked three lenders on the same June day: a $2,350,000 bank mortgage, $600,000 from Neighborhood Lending Services, and $870,000 from a private partner. Florida Housing Finance Corporation modified its position in 2017. A $6,150,000 bank mortgage on a twenty year term arrived in 2018, and a Fannie Mae assumption of $4,786,602 recorded in 2023. Layered public, CDFI, and agency capital carried this community for two decades.

The new lender fits the pattern at institutional scale: CBRE's multifamily debt platform is a Freddie Mac Optigo and Fannie Mae DUS lender with dedicated targeted affordable housing programs, per its published materials. This is its first closing tracked on LoanList, ranking 4th of 25 tracked Tampa market closings.

For affordable housing sponsors, the significance is the buyer profile: an out of state institutional partnership acquiring a stabilized workforce asset in a Tampa exurb, financed on ten year paper through an agency capable platform. Income restricted communities are trading as institutional product now, and the recorded stack here, from CDFI dollars in 2001 to agency debt in 2026, shows the full arc of that maturation.