Holliday Fenoglio Fowler, L.P. (HFF) announces the financing for the development of The Point at Starkey Ranch, a 384-unit, Class A+ apartment community in the Pasco County community of Odessa, Florida.
The HFF team worked exclusively on behalf of Waypoint Residential, LLC to secure the floating-rate construction loan.
The Point at Starkey Ranch will consist of 384 garden-style apartment units averaging 1,012 square feet within 21 three- and four-story buildings. The property will be situated on 17.5 acres at the northwest corner of Gunn Highway and Florida 54 in the Starkey Ranch master planned community. The development site, which is adjacent to a Publix-anchored shopping center, is approximately 15 miles north of downtown Tampa and within 10 miles of the Tampa Premium Outlets and Shops at Wiregrass, two of Tampa’s most prominent destination retail centers. Upon completion in late 2019, the community will feature a resort-style pool, poolside grills and cabanas, fitness facility, clubhouse, internet café, business conference rooms, dog park, children’s playground and walking trails. Units will have high-end finishes, including stainless steel appliances, designer kitchens and bathrooms, full-sized washers and dryers, walk-in closets and faux-wood flooring.
The HFF debt placement team representing the borrower included senior managing director Roland Merchant, director Brian Gaswirth and analyst Jesse Wright.
About Waypoint Residential, LLC
Waypoint Residential, LLC (“Waypoint”) is a vertically integrated real estate investment firm specializing in rental housing. Waypoint acquires and develops conventional multifamily, student and senior housing properties throughout the United States. The company’s office locations include Stamford, Atlanta, Boca Raton, Chicago, Dallas and Denver. Founded in 2011, Waypoint’s investment activity totals over $2.3 billion across more than 24,000 units.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter@HFF.