JLL Capital Markets announced that it has arranged $53 million in acquisition financing for Circa at FishHawk Ranch, a 260-unit, Class A, garden-style multihousing community in the Tampa MSA community of Lithia, Florida.
JLL worked on behalf of the borrower, GMF Capital, to secure the three-year, floating-rate loan through Sound Point Capital Management, LP.
Circa at FishHawk Ranch comprises studio, one-, two- and three-bedroom units averaging 1,045 square feet. Units feature gourmet kitchens, air conditioning, dishwashers, fireplaces and electronic thermostats. The community features a fitness center, pool with cabanas, clubhouse, courtyard, pat play area, picnic area, business center, bike storage and conference rooms.
Located at 13930 Spector Road, in the master-planned community of FishHawk Ranch, the property is proximate to an abundance of convenience retail, including the adjacent Alafia Commons, a new Publix Supermarket-anchored shopping center. Circa at FishHawk Ranch offers excellent connectivity near Fishhawk Boulevard, Lithia Pinecrest Road, Highway 301 and Interstate 75 providing access to all demand drivers within the Tampa Bay MSA and the west coast of Florida.
The JLL Capital Markets Debt Advisory team that represented the borrower was led by Senior Managing Director Elliott Throne, Managing Director Brian Gaswirth, Director Jesse Wright and Associate Kenny Cutler.
The GMF Capital acquisitions team was led by Jared Frydman and Alejandro Ramirez.
Sound Point’s Southeast origination team was led by Jordan Heller.
“GMF Capital continues to impress with their ability to identify multi-housing assets within incredibly strong growth markets,” stated Gaswirth. “Sound Point was able to structure a creative debt solution which will give GMF the ability to maximize the property’s return potential.”
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 sales and 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.