News release

$63M recapitalization secured for Channel Club luxury high-rise in Tampa

JLL led financing on behalf of ECI Group to arrange the loans with BBVA and Blackrock

September 15, 2020

TAMPA, FLA., September 15, 2020 – JLL Capital Markets announced today that it has arranged a $63 million recapitalization of the Channel Club, a recently completed two-story Class A high-rise apartment community located at 1115 E. Twiggs St. in Tampa, Florida.  

JLL represented the borrower, a partnership between ECI Group and Mercury Advisors, to secure the financing with BBVA USA and BlackRock.

The Channel Club consists of 324 one- and two-bedroom apartments, with units averaging 911 square feet. Residents can enjoy spacious, sophisticated units with best-in-class interior finishes and stainless-steel appliances, granite countertops in the kitchen and bathroom(s), 42-inch upper cabinets and a private balcony with immaculate skyline views.

Community amenities include a resort-style pool accompanied by breathtaking Downtown Tampa views, state-of-the-art fitness center, a covered parking garage and business center. Additionally, residents have the convenience of an on-site Publix for grocery needs.

Touted as Tampa’s most walkable submarket and just a few minutes from Downtown Tampa, the property is strategically located in close proximity to various shopping, dining and entertainment options in the Channel District neighborhood.

Formerly a historic industrial district, Channel District is currently undergoing several transformative developments, including a $3.5 billion Water Street mixed-use property. The revitalization marks the Channel District as a burgeoning neighborhood in Tampa, housing 3,300 of the 3.1 million residents in the metropolitan area and quickly becoming a hot spot for start-ups and businesses, providing immense job opportunities within the surrounding areas.

The JLL Capital Markets team representing the borrower was led by Atlanta-based Managing Director Chip Sykes who commented, “We are extremely grateful for the opportunity to have work on this financing for ECI and Mercury Advisors. We are in a highly challenging financing environment and only the best assets in the strongest growth markets with best-in-class sponsors are being financed. I’m glad those stars were aligned here and allowed us to succeed.”

“Despite the disruptions in the capital markets caused by Covid-19, capital continues to find Tampa to be an attractive market for real estate,” continues Matt Mitchell, who leads JLL’s Capital Markets group in Tampa. “Tampa has emerged as one of the most stable multi-housing markets in the U.S. because of a variety factors including its economic diversity, affordability and a manageable pipeline of new supply.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About ECI Group

ECI Group (ECI) is one of the most highly regarded, privately owned real estate organizations in the Southeast. For almost 50 years, our fully integrated development, construction, brokerage, and management group has gathered national recognition for our innovations and knowledge in the multifamily housing industry. Since ECI’s inception we have surpassed industry standards and set the tone for professionalism and service throughout the United States. ECI has established a track record of Excellence, Commitment and Integrity through our actions. For more information, visit


BBVA USA is leading the transformation of banking worldwide, united in pursuing its goal of bringing the age of opportunity to everyone. Firmly focused on the future, our on-going digital transformation is already producing disruptive innovations that power our vision of banking. Visit for more information. 

About BlackRock

BlackRock is a global asset manager. The company helps investors build better financial futures. As a fiduciary to investors and a leading provider of financial technology, its clients turn to BlackRock for the solutions they need when planning for their most important goals. BlackRock’s founding mission was to establish a firm that thinks differently about managing investment risks to best serve clients, and this is still at its core today.

About Mercury Advisors

Mercury Advisors is a multi-disciplinary development firm, specializing in the entitlement and construction of single family, multi-family, retail and office projects predominantly in Florida. With over 50 years of combined experience, the team at Mercury Advisors can quickly evaluate, analyze and seize opportunities in the commercial real estate market.