SPRING HILL, FLA. — JLL Capital Markets has arranged a $32 million construction loan for Magnolia at Spring Hill, a 162-unit built-to-rent community in Spring Hill, 40 miles north of Tampa, Florida. Agador Spartacus Development was the borrower.
Magnolia at Spring Hill will offer two-bedroom flats and two- and three-bedroom townhome-style units with an average size of 1,144 square feet. Planned amenities include a pool, pickle and basketball courts, playgrounds, a fitness studio and outdoor kitchen. Development is expected to complete in late 2025.
JLL arranged the non-recourse loan through a partnership between North River Partners and Amzak Capital Partners. Max La Cava and Pier Barinci led the JLL Capital Markets team representing Agador Spartacus Development. JLL also arranged the joint venture LP equity for the project in 2023.