JLL’s Capital Markets group arranged $463 million in bridge financing for Thompson Thrift’s eight-property multifamily portfolio. 6 of the 8 properties are in Florida. That’s a lot of new apartments in one state.
JLL secured the floating-rate construction take-out loan through Barings, with Daniel Hedgepeth leading the financing. The proceeds retired existing construction loans across all eight properties, which were delivered on a phased basis throughout 2025 and 2026. I read this as a developer swapping eight construction loans for one bridge loan.
The floating rate is the part I keep coming back to.
JLL’s Capital Markets group arranged $463 million in bridge financing for Thompson Thrift’s eight-property multifamily portfolio. The floating-rate loan was secured through Barings.
The Quinn in Pensacola has 324 units. The Stadler in North Port-Sarasota-Bradenton has 280 units. Verity in Vero Beach has 276 units. The Junction at Rockledge in Palm Bay-Melbourne-Titusville has 380 units. The Hadley in North Port-Sarasota-Bradenton has 268 units.
What would you ask your lender if you were floating on that much debt?