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PLANT CITY, FLA. — NewPoint Real Estate Capital LLC has provided a $50 million lease-up bridge loan to Hillpointe LLC for the refinancing of Pointe Grand Plant City, a 300-unit asset located in Plant City, approximately 24 miles east of Tampa, Florida. Trevor Ritter of NewPoint originated the two-year, floating rate, interest-only loan.
Pointe Grand Plant City consists of 10 three-story buildings that house two-bedroom units. Shared amenities include a pool, fitness center, clubhouse with coffee and tea bar, business center with conference room, picnic area with barbecue grills, community firepit, electric vehicle charging stations and a bark park with pet spa.