HSF Originates $22M Construction Loan for The Breeze Apartments in Winter Haven, FL

DALLAS – November 28, 2023 – Dallas-based HALL Structured Finance (HSF) announced today that the company has originated a $22 million construction loan for the development of The Breeze, a six-story apartment building in Winter Haven, Florida. The owner and developer is DevMar Development.

 

The Breeze will be comprised of 102 class-A apartments with luxury amenities including an outdoor pool with cabanas, indoor and outdoor bar area, fitness center, business center with lounge, climate-controlled storage units, and a 6,000-square-foot dog park with pet spa.

 

Apartments will feature 10-foot ceilings, large balconies, and granite countertops, with upgraded appliances, cabinets, and fixtures.

 

This is the fourth construction loan Hall Structured Finance has provided to DevMar Development. Previously HSF provided financing for the development of the Vantage Lofts and The Baum Apartments, both in St. Petersburg, and RainDance Apartments in Winter Haven, located across the street from The Breeze site.

 

“Winter Haven, a rapidly expanding city in Polk County and the fastest-growing county in Florida, has witnessed an upward surge in population adding more than 30,000 new residents,” said HSF Vice President and loan originator Brad Ferguson. “The timing of this project aligns with the increasing housing demand in the region. We look forward to working with DevMar Development on a fourth successful development in the Florida market.”

 

HSF is targeting to close $750 million in new construction and bridge loans in 2023, largely in the hotel and multifamily sectors.

 

Read the full press release here.

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