$77M Freddie Mac Loan Refies 638-Unit Apartment Community in Tampa
JLL has refinanced Hamilton Point on Egypt Lake, a 638-unit apartment community in Tampa, FL, with a $76.7-million loan.
Elliott Throne and Kenny Cutler of JLL represented the borrower to secure the 10-year, floating-rate loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.
“As some of the best in the business, the owner completed an extensive renovation of this property and added immense value along the way,” said Cutler. “They are repatriating substantial equity at a very attractive spread with this new loan, which has prepayment flexibility — a major benefit of Freddie Mac floating-rate loans.”
Hamilton Point at Egypt Lake consists of 60 two-story buildings. Amenities include two pools, lake-front sand volleyball court, club house, fitness center, tennis courts, and on-site laundry facility. The property is in the West Tampa submarket at 6900 Concord Drive minutes from public beaches.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.