Trilogy Receives $64M Construction Loan for Tampa-Area Apartments
Trilogy Real Estate Group has received a $64 million construction loan for the development of The Albion, a 325-unit apartment community being built in Valrico, Fla. The project, located 14 miles east of downtown Tampa, is slated for delivery in the fourth quarter of 2028.
Multihousing News reports the financing is in the form of a three-year, floating-rate loan provided by QuadReal Property Group.
The Albion will be located at 104 South Mulrennan Road. The community will feature six mid-rise buildings on 13 acres. The community will offer a mix of one-, two- and three-bedroom units averaging 919 square feet. Planned amenities include a pool, a golf simulator, a speakeasy-style lounge and a fitness center. There will be coworking spaces, a pet park and spa, as well as bocce ball and sand volleyball courts.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Matthew Lawton, Jesse Wright, Kenny Cutler, JJ Hovenden and Miguel Pedersen.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout