Berkadia announced it secured $44 million in refinancing for The Harlow, a 248-unit, Class A, garden-style multifamily community in Wesley Chapel, Florida. The transaction matters because it converts a newly built asset's construction loan into more flexible capital at a moment when the property is essentially full, signaling lender confidence in both the asset and the broader Wesley Chapel submarket. The refinancing was arranged on behalf of a joint venture between Mast Capital and Rockpoint, with Walton Street Capital providing the three-year, floating-rate loan. According to Berkadia, the new debt refinances the property's existing construction loan and provides the sponsors with flexibility to pursue a sale or permanent financing over the coming years.
The Harlow was completed in 2024 and sits on approximately 16.24 acres at 5101 Bruce B Downs Blvd. The four-story community offers a mix of one-, two-, and three-bedroom residences averaging approximately 1,006 square feet. Amenities include a resort-style pool and sundeck, a fitness studio, a walking trail, EV charging stations, detached garages, and a clubhouse with co-working spaces and private offices. The property was 98% occupied at closing, a figure that Berkadia's Matthew Robbins linked to strong leasing performance and continued demand across the Wesley Chapel market. The financing team included Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler, Matthew Robbins, and Brad Williamson, and Vice President Bryan Brown of Berkadia's Miami and Boca Raton offices.
The evidence for this transaction comes from a single secondary source, Yield PRO, which published the announcement on September 2, 2026. The report includes direct quotes from Berkadia's Scott Wadler and Matthew Robbins, as well as Mast Capital Founder and CEO Camilo Miguel Jr. Wadler described The Harlow as a compelling financing opportunity given the strength of the sponsorship, the quality of the newly built asset, and its strong operating performance. Robbins emphasized that Wesley Chapel continues to benefit from strong population growth and significant investment in retail, healthcare, and infrastructure, which have helped drive demand for newer rental communities. Miguel added that the refinancing positions the asset well for its next phase and underscores the sponsors' conviction in the long-term fundamentals of the Tampa region.
The transaction carries implications for the Wesley Chapel multifamily market and for how lenders are approaching recently delivered Class A product. The Harlow's location is a central part of the underwriting story: the property is along Bruce B Downs Boulevard, just east of I-75 and approximately 30 minutes north of downtown Tampa. It is adjacent to BayCare's $250 million Wesley Chapel hospital campus and near AdventHealth Wesley Chapel, two major healthcare and employment hubs. The property is also within five miles of Tampa Premium Outlets, Shops at Wiregrass, and The Grove at Wesley Chapel. Berkadia's Robbins said the proximity to these demand drivers and the property's leasing performance generated significant lender interest, suggesting that healthcare-anchored employment corridors remain attractive to multifamily capital providers even as broader financing conditions fluctuate.
The available evidence leaves several questions unanswered. The dossier does not disclose the loan's interest rate, spread, loan-to-value ratio, or any other pricing terms beyond the floating-rate structure and three-year term. It also does not provide the original construction loan amount, the property's total development cost, or the sponsors' equity basis. Because the source is a single secondary report, the transaction details have not been independently corroborated by Berkadia, Mast Capital, Rockpoint, or Walton Street Capital. Readers should treat the announcement as a factual account of a completed refinancing while recognizing that pricing, leverage, and underwriting assumptions remain undisclosed. What to watch next is whether the sponsors pursue a sale or permanent financing before the three-year loan matures, and whether The Harlow's occupancy and rent performance hold up as additional Wesley Chapel supply is delivered.