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Index Investment Group Secures $103M Construction Loan for Tampa MF Project
Jupiter-based investment and development company Index Investment Group has secured $103 million in non-recourse construction takeout financing with H.I.G Capital for their 444-unit multifamily development The Pointe on Westshore in Tampa.
Located at 4950 West Prescott St. in Tampa on a 23-acre parcel of land, The Pointe on Westshore is a 444-unit, multifamily community comprised of 27 buildings across 689,250 square feet upon completion. The property consists of six five-story elevator buildings, 14 carriage buildings, a clubhouse and leasing center and a pool house. The project is located on Old Tampa Bay in Port Tampa City.
“We are excited to finance a best-in-class property located in one of the most desirable submarkets in Tampa,” said Michael Mestel, managing director at H.I.G. Realty Partners. He added, “The Sponsor has constructed a terrific property, and we are confident it will be well received by the market.”
- ◦Development
