News release

Financing secured for Class A multi-housing community in suburban Tampa

JLL Capital Markets arranged the acquisition financing and equity joint venture equity for Creekside Apartments in Bradenton

December 21, 2021

Kristen Murphy

Capital Markets, Hotels & Hospitality and Value & Risk Advisory PR
+1 617 848 1572

TAMPA, December 21, 2021 – JLL Capital Markets announced today that it has arranged acquisition financing and joint venture equity for Creekside Apartments, a 256-unit, garden-style, luxury multi-housing community in the greater Tampa Bay community of Bradenton.

JLL worked on behalf of the borrower, Marquette Companies, to secure the five-year, floating-rate loan with MetLife Investment Management on behalf of a client, as lender. Additionally, JLL worked on behalf of the borrower to secure the joint venture equity through a large private pension fund.

Completed in 2015, Creekside Apartments offers one-, two- and three-bedroom units averaging 1,126 square feet. Apartments include vinyl hardwood floors, walk-in closets, mahogany cabinets and full-size washers and dryers. Community amenities consist of a pool, fitness center, spa, sundeck with cabanas, indoor basketball court, theater room, billiards room, car washing station, dog park and pet washing station.

Situated at 11209 Ranch Creek Terrace in Bradenton, Florida, Creekside Apartments is located 40 miles south of Tampa in the master-planned community of Lakewood Ranch. The 7,000-acre community features walking paths, trails, lakes, nature preserves and parks. In addition, Lakewood Ranch offers immediate access to employment for 17,400 employees across 1,870 businesses from a wide array of industries including technology, insurance and education.

The JLL Capital Markets Advisory team representing the sponsor was led by Managing Director Matthew Schoenfeldt, Senior Managing Director Elliot Throne, Director Drew Jennewein and Analyst Medina Spiodic.

“We are very excited to watch as the Marquette team revitalizes this exceptional asset,” said Schoenfeldt. “These large units, complimented by resort-caliber amenities, live like single-family homes, and the targeted enhancements planned for Creekside will serve both ownership and discerning tenants well.”

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 best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 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 $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Marquette Companies

The Marquette Companies is a 38-year old, vertically integrated operator with in-house development, acquisition, asset management, construction management, and property management capabilities. Assets under management currently total more than $2.4 billion. Marquette specifically specializes in the Class A and B multi-family segment of the commercial real estate industry. Marquette’s current footprint by state includes Illinois, Minnesota, Michigan, Indiana, Texas, Tennessee and Florida, with prior exposure to Colorado, Kansas, Missouri and Ohio. Despite many competitive forces in the market today, Marquette continues to acquire high-quality properties in strong locations via both off-market and fully marketed transactions.