Berkadia has arranged $44 million in refinancing for The Harlow, a 248-unit Class A apartment community in Wesley Chapel, Florida. The three-year, floating-rate loan, provided by Walton Street Capital, replaces the newly built property’s construction financing and gives its owners flexibility to pursue a sale or long-term financing strategy.
Key takeaways
The transaction highlights continued lender interest in high-quality multifamily properties located near major employment, healthcare and retail centers.
- The Harlow is a 248-unit, garden-style community completed in 2024.
- The property was 98% occupied at closing.
- The loan was arranged for a joint venture between Mast Capital and Rockpoint.
- Walton Street Capital provided the three-year, floating-rate financing.
- The refinancing replaces the property’s construction loan.
Financing supports ownership’s next phase
Berkadia’s Miami and Boca Raton teams arranged the financing on behalf of Mast Capital and Rockpoint. The deal was led by Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler, Matthew Robbins and Brad Williamson, and Vice President Bryan Brown.
The new loan is designed to provide operational and strategic flexibility. With construction financing refinanced, the ownership group can evaluate a potential sale or permanent financing as the asset matures and market conditions develop.
The Harlow delivers Class A amenities
Located at 5101 Bruce B Downs Boulevard, The Harlow occupies approximately 16.24 acres and offers one-, two- and three-bedroom apartments averaging about 1,006 square feet. The four-story community was completed in 2024 and features an amenity package aimed at attracting residents seeking newer, professionally managed housing.
Amenities include a resort-style pool and sundeck, fitness studio, walking trail, electric-vehicle charging stations, detached garages and a clubhouse with co-working areas and private offices. The property’s strong leasing performance helped support the refinancing and contributed to lender demand for the transaction.
Wesley Chapel location attracts investment
The Harlow sits just east of Interstate 75, roughly 30 minutes north of downtown Tampa. Its location places residents near major healthcare and employment hubs, including BayCare’s planned $250 million Wesley Chapel hospital campus and AdventHealth Wesley Chapel.
The community also has access to Interstate 75 and Interstate 275 and is within five miles of Tampa Premium Outlets, Shops at Wiregrass and The Grove at Wesley Chapel. Population growth and ongoing investment in retail, healthcare and infrastructure continue to support demand for newer rental communities in the area.
Sponsors cite Tampa-area fundamentals
Mast Capital founder and CEO Camilo Miguel Jr. said the property’s leasing results demonstrate the quality of the community and the continued demand across Wesley Chapel. He added that the refinancing positions The Harlow for its next stage while reflecting the sponsors’ confidence in the long-term fundamentals of the Tampa region.
For Berkadia, the transaction underscores the firm’s role in arranging multifamily debt and providing financing solutions tailored to an asset’s ownership and business plan.
- THE HARLOW Wesley, Yield PRO.