TAMPA, FLA. — JLL Capital Markets has secured refinancings totaling a combined $134.9 million for three student housing communities across the Southeast.
Lee Weaver, Melissa Marcolini Quinn, Rob Rothaug and Jade Starkey of JLL worked on behalf of Commercial Street Partners to secure a $97.5 million refinancing for Apella on Newport in Tampa. The three-year, floating-rate loan was placed through MF1/Limekiln Real Estate Investment Management. The newly constructed community spans 195,076 square feet at 311 North Newport Ave. near the University of Tampa campus. The property offers 576 beds across 150 fully furnished units in two-, three-, four- and six-bedroom configurations. Shared amenities include a rooftop pool, fitness center, study lounges and secured garage parking.
Weaver and Quinn, along with Kenny Cutler, Rob Rothaug and Cristian Sieman of JLL, also secured a $22 million refinancing for Preserve at Tech near Louisiana Tech University in Ruston, La. Prime Finance provided the two-year, floating-rate loan to borrower RISE: A Real Estate Co. Completed in 2021 at 1913 West Alabama Ave., the community offers 588 beds across 168 units in three- and four-bedroom configurations. Shared amenities include a resort-style pool, 24-hour clubhouse, computer lab, fitness center and a gaming lounge.
JLL also worked on behalf of University Suites to secure a $15.4 million refinancing for University Suites at Coastal Carolina in Conway, S.C. Weaver, Quinn, Rothaug and Sieman placed the two-year, floating-rate loan through Sound Point Capital Management. Built in 2009 and renovated extensively between 2021 and 2023, the community offers 272 beds across 68 four-bedroom townhomes and nine residential buildings. The property spans 114,240 square feet at 2241 Technology Drive near Coastal Carolina University. Shared amenities include a clubhouse, fitness center, pool, dog park and a basketball court.