News release

Beachwold Residential secures first supplemental loan for Ariel Springs

JLL Capital Markets arranged the $15.85M loan for the Spring Hill, FL multi-housing property through Freddie Mac  

June 09, 2021

MIAMI, June 9, 2021 – JLL Capital Markets announced today it secured a $15.85 million financing for Ariel Springs, a garden-style, multi-housing property located in Spring Hill, Florida, about 50 miles north of Downtown Tampa.

JLL represented the borrower, Beachwold Residential, to secure the fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

Beachwold Residential acquired the property in Dec. 2018, landing $44 million in acquisition financing also through Freddie Mac. This financing is the first supplemental loan on the property, a result of the borrower’s capital enhancement, immense demand for quality, professionally managed apartments in the market, and the Tampa area’s rent growth through the pandemic. The ability to repatriate equity through this substantial supplemental loan represents one of the many benefits of Freddie Mac financing.

Ariel Springs is currently 97.7% occupied and consists of 470 one-, two- and three-bedroom units. Since acquisition, Beachwold Residential has invested nearly $3 million in renovations to both the interior and exterior of the highly-amenitized property. Community features include a clubhouse, community car wash, entertainment area with a full kitchen, modern fitness center, swimming pool, business center and shuffleboard and basketball courts.

Ariel Spring is located at 3454 Suncoast Villa Way, in the quaint city of Spring Hill, and in close proximity to various neighborhood amenities, including local dining and shopping, and direct access to the 42-mile Suncoast Bike Trail.

The JLL Capital Markets team representing Beachwold was led by Senior Managing Directors Elliott Throne and Mona Carlton, Director Jesse Wright and Associate Kenny Cutler.

“One of the many great attributes of an agency loan is the borrower can garner additional proceeds after improving the property’s NOI,” stated Throne. “Beachwold’s immense success at this asset has enabled them to pull out a significant amount of their equity thru additional financing from Freddie Mac at an interest rate very close to what they have on the original senior loan.”

According to JLL’s latest United States Multi-Housing Outlook, the Tampa Bay multi-housing market held steady throughout 2020 and heading into 2021. Occupancies remained at or above 95% over the past five years and overall remaining resilient amid the COVID-19 pandemic. The report also states that Florida has been the net-beneficiary of in-bound migration throughout the past 12 months due to its world class beaches and favorable business climate, driving relocations to the state.

JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales advisory and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities. 

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 deliver best-in-class solutions for clients — whether investment sales 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.

For more news, videos and research resources on JLL, please visit our newsroom.

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 $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Beachwold Residential

Beachwold Residential and its principals have built, owned and managed multifamily properties for 40 years. The firm controls 57 properties and 15,000 multifamily units in Connecticut, Texas, Florida, Georgia, Virginia, Maryland, New Jersey and Tennessee. For more information, please visit