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| Channel Club, a recently completed two-story, Class A high-rise apartment community at 1115 East Twiggs Street, Tampa, FL |
TAMPA, FL – JLL Capital Markets announced it has arranged a $63 million recapitalization of the Channel Club, a recently completed two-story Class A high-rise apartment community located at 1115 E. Twiggs St. in Tampa, Florida.
JLL
represented the borrower, a partnership between ECI Group and Mercury Advisors,
to secure the financing with BBVA USA and BlackRock.
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| Chip Sykes |
The Channel Club consists of 324 one- and two-bedroom apartments, with units averaging 911 square feet.
Residents can enjoy spacious, sophisticated
units with best-in-class interior finishes and stainless-steel appliances,
granite countertops in the kitchen and bathroom(s), 42-inch upper cabinets and
a private balcony with immaculate skyline views.
Community
amenities include a resort-style pool accompanied by breathtaking Downtown
Tampa views, state-of-the-art fitness center, a covered parking garage and
business center. Additionally, residents have the convenience of an on-site
Publix for grocery needs.
Touted
as Tampa’s most walkable submarket and just a few minutes from Downtown Tampa,
the property is strategically located in close proximity to various shopping,
dining and entertainment options in the Channel District neighborhood.
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| Matt Mitchell |
The
revitalization marks the Channel District as a burgeoning neighborhood in
Tampa, housing 3,300 of the 3.1 million residents in the metropolitan area and
quickly becoming a hot spot for start-ups and businesses, providing immense job
opportunities within the surrounding areas.
The JLL Capital Markets team representing the borrower was led by Atlanta-based Managing Director Chip Sykes who commented, “We are extremely grateful for the opportunity to have worked on this financing for ECI and Mercury Advisors.
"We are in a highly challenging
financing environment and only the best assets in the strongest growth markets
with best-in-class sponsors are being financed. I’m glad those stars were
aligned here and allowed us to succeed.”
“Despite
the disruptions in the capital markets caused by Covid-19, capital continues to
find Tampa to be an attractive market for real estate,” continues Matt
Mitchell, who leads JLL’s Capital Markets group in Tampa.
“Tampa
has emerged as one of the most stable multi-housing markets in the U.S. because
of a variety factors including its economic diversity, affordability and a
manageable pipeline of new supply.”
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more news, videos and research resources on JLL, please visit our newsroom.
CONTACT:
Natalie Passarelli
Public Relations
Jones
Lang LaSalle Americas, Inc.
200
E. Randolph St.
Chicago, IL 60601
M
+1 224 477 7307
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