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Florida & Gulf Coast  + Central Florida  + Apartments  |  August 13, 2021
David Cohen
By: David Cohen

HSF Provides $16M Construction Loan for St. Petersburg MF Project

Hall Structured Finance (HSF) has provided a $16.1 million construction loan to finance the development of the Metro, a 100-unit multifamily project in St. Petersburg.

The seven-story complex will be modern in design with 100 studio units offering open floor plans, granite and quartz countertops, 10-foot ceilings, floor-to-ceiling windows and large private balconies. All units will be fully furnished featuring a murphy bed, sofa, washer and dryer, coffee table and high-end appliances. Amenities at the property will include an outdoor pool with cabanas, hammocks, grills, game area, dog park and indoor bike/scooter storage and repair shop.

The project developer is DevMar Development, the same developer of both The Vantage Apartments in St. Petersburg and RainDance Apartments in Winter Haven. Steven Siegel of Q10 Lutz Financial Services, sourced the financing for the project.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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