Trilogy Real Estate Group has secured $64 million in construction financing to develop The Albion, a 325-unit multifamily project in Valrico, Florida. Located just 14 miles east of downtown Tampa, the development is expected to reach completion by late 2028, adding significant housing capacity to the growing suburban market.
Key takeaways
- Project: The Albion, a 325-unit apartment community.
- Location: 104 South Mulrennan Road, Valrico, Florida.
- Financing: $64 million floating-rate loan provided by QuadReal Property Group.
- Timeline: Construction is slated for delivery in the fourth quarter of 2028.
Project specifications
The Albion is set to transform a 13-acre site into a modern residential hub. The development will consist of six mid-rise buildings, offering a diverse mix of one-, two-, and three-bedroom floor plans. On average, the units will span 919 square feet, catering to a wide range of renters seeking proximity to the Tampa metropolitan area while enjoying a suburban lifestyle.
Lifestyle and amenities
Designed with modern resident needs in mind, the community will prioritize both leisure and productivity. The property will feature a variety of high-end amenities, including:
- A resort-style pool and fitness center.
- A dedicated speakeasy-style lounge and a golf simulator.
- Multiple coworking spaces for remote professionals.
- Outdoor recreation areas, such as bocce ball and sand volleyball courts.
- A pet park and dedicated pet spa.
These facilities are intended to foster a strong sense of community and provide residents with convenient access to entertainment and wellness options without needing to leave the property.
Financing and development team
The financial backing for the project was provided by QuadReal Property Group in the form of a three-year, floating-rate loan. To navigate the complex debt advisory process, Trilogy Real Estate Group utilized the expertise of a JLL Capital Markets team. The JLL team, which represented the borrower in securing the capital, included Matthew Lawton, Jesse Wright, Kenny Cutler, JJ Hovenden, and Miguel Pedersen. Their involvement ensures the project remains on track to meet its 2028 delivery goal.