The Real Deal Miami

HFF assists with loan to build Jacksonville rentals

Miami-based Capital Bank made a $26.2 million construction loan for a 300-unit rental complex

September 11, 2016 03:00PM

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Integra River Run rendering

Integra River Run rendering

Holliday Holliday Fenoglio Fowler, L.P. (HFF) helped a Jacksonville rental housing developer land a $26.2 million apartment construction loan from Miami-based Capital Bank.

The HFF debt placement team representing the borrower was led by managing director Elliott Throne.

The borrower is developing Integra River Run, a 300-unit apartment complex with one-, two- and three-bedroom units averaging 979 square feet in size.

The Lake Mary-based developer, Integra Land Company, is building seven four-story apartment buildings, five carriage houses that will be two stories each, and a clubhouse, plus amenities including a swimming pool and sun deck, a barbecue area, fitness center, game room and café.

Managing director Elliott Throne led the HFF debt placement team representing the developer in negotiations with Capital Bank.

The rental housing complex, scheduled for completion next year, is located within a mile of Interstate 95, near Jacksonville International Airport and the Port of Jacksonville.

Integra River Run will be located across the street from a newly built, 200,000-square-foot medical complex called UF Health North, which eventually will function as a full-service hospital. Also nearby, an Amazon fulfillment center that will employ 1,500 people is under development about three miles southwest of the apartment property.