Hamilton Point on Egypt Lake
Update
07/13/22
Florida Multi-Housing Community Refinanced with $76.72M Freddie Mac Loan
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.”
Photo: Hamilton Point on Egypt Lake
