PLANT CITY, FLA. — NewPoint Real Estate Capital LLC has provided a $50 million loan for the refinancing of Pointe Grand Plant City, a newly built, 300-unit apartment community in the metro Tampa area. Trevor Ritter of NewPoint originated the two-year, floating-rate, interest-only bridge loan on behalf of the borrower, Hillpointe LLC.
The community, which features two-bedroom units with open floor plans and smart home access, is early in its lease-up phase. Monthly rental rates at Pointe Grand Plant City range from $1,764 to $1,914, according to Apartments.com.
Community amenities include a resort-style swimming pool with private cabanas, 24-hour fitness center, clubhouse with coffee and tea bar, business center with a conference room, picnic area with barbecue grills, community firepit, bark park with agility equipment and pet spa and electric vehicle charging stations.