Outside the Region: Eyzenberg & Co. arranges capital for 234-unit Park Plaza acquisition in Fla.

Miami Gardens, FL Park Plaza, a 234-unit apartment community was purchased by a joint venture between Coastline Management and Tower Capital Group.

Robert Ginsberg and Mila Babenko of Eyzenberg & Co. arranged a $7.5 million JCR Capital equity investment for the value-add opportunity and helped to structure $25.4 million in Freddie Mac financing.

The buyers plan to add a swimming pool with a barbecue/picnic area and to renovate individual units at the property, which was built in 1972. Additional amenities improvements will include upgrading the fitness center, laundry facilities and business center.

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