Florida multi-housing community refinanced with $76.72M Freddie Mac loan

MIAMI, July 11, 2022 – JLL Capital Markets announced that it has refinanced Hamilton Point on Egypt Lake, a 638-unit apartment community located in Tampa, Florida with a $76.72 million loan.

JLL represented the borrower to secure the 10-year, floating-rate loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

Consisting of 60 two-story buildings, Hamilton Point at Egypt Lake offers one-, two- and three-bedroom units with an average size of 858 square feet. Units feature GE appliances, in-unit washers and dryers, dishwashers and disposals, bulk cable packages, patios and balconies in select floorplans, private foyers and breakfast bars. Community amenities include two swimming pools, lake-front sand volleyball court, club house rental, a fitness center, two tennis courts, reserved covered parking, a children’s playground and an on-site laundry facility.

Situated within the West Tampa submarket, the property is located at 6900 Concord Dr. off of North Dale Mabry Highway. Residents benefit from the nearby shopping, including the International Plaza and Hyde Park Village, as well as the proximate dining options. Additionally, the community is minutes away from several public beaches.

The JLL debt team was led by Senior Managing Director Elliott Throne and Director Kenny Cutler.

“As some of the best in the business, the owner completed an extensive renovation of this property and added immense value along the way,” stated Cutler. “They are repatriating substantial equity at a very attractive spread with this new loan, which has prepayment flexibility – a major benefit of Freddie Mac floating-rate loans.”

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 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. Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.

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 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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