Partnership Scores $63M Refi for Tampa Community

The property is within the Channel District neighborhood, a former industrial area that is currently undergoing several renovations.
Channel Club. Image courtesy of JLL

A partnership between ECI Group and Mercury Advisors received a $63 million refinancing loan for Channel Club, a 324-unit community in Tampa, Fla. JLL Capital Markets secured the financing with BBVA USA and BlackRock.

The Class A community comprises one- and two-bedroom apartments, with units averaging 911 square feet. Interiors feature stainless-steel appliances and granite countertops. Common-area amenities include a business center, swimming pool and fitness center. The high-rise also has 596 parking spaces and an on-site grocery store.

Located at 1115 E. Twiggs St., on approximately 2 acres, Channel is within walking distance of downtown Tampa. The property is within the Channel District neighborhood, a former industrial area of the city that is currently undergoing several renovations. Tampa International Airport is 6 miles from the property.

JLL Managing Director Chip Sykes assisted the borrower. This month, the brokerage worked on behalf of Asia Capital Real Estate to secure a 10-year, floating-rate, Freddie Mac loan for Arbor Ridge, a 212-unit community in Athens, Ga. The borrower received $17.2 million in refinancing.