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

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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