SunTrust Provides $75M Loan for Tampa Project
The Related Group broke ground last year on the 396-unit luxury waterfront community, Town Westshore. The four-story development will include a health spa.
The Related Group has scored a $75 million loan to refinance Town Westshore, a 396-unit luxury waterfront community under construction in Tampa, Fla. SunTrust Bank provided the loan, with Senior Vice President Rebecca M. Cox leading the transaction.
The development broke ground in January 2018 and was initially slated for completion in the summer of this year. Located at 5001 Bridge St., the four-story development fronting Old Tampa Bay will provide a mix of one-, two- and three-bedroom units. Amenities will include a clubhouse with catering kitchen, health spa, beach-entry swimming pool and electric car charging.
LandSouth Construction is the contractor, while MSA Architects designed the apartments. The site is located near downtown Tampa and St. Petersburg, with access to the Lee Roy Selmon Expressway, and the immediate area will give rise to a marina, restaurants, retail space and other residential properties.
Also in Tampa, Related recently delivered Manor Riverwalk, a 400-unit upscale apartment community located at the old Tampa Tribune building at 202 S. Parker St., and Icon Central, a 368-unit high-rise community near downtown St. Petersburg.