Commercial Street Partners secured $97.45 million in financing for Apella on Newport, a 576-bed newly constructed student housing community in Tampa, Fla.
JLL worked on behalf of the borrower, Commercial Street Partners — a partnership between Christa Construction and Shortino Enterprises — in arranging the three-year, floating-rate loan through MF1/Limekiln Real Estate Investment Management.
Apella on Newport, located at 311 N Newport Ave., offers a location less than half a mile from the University of Tampa campus. The property features a mix of two-, three-, four- and six-bedroom fully furnished units across 150 apartments, totaling 195,076 square feet of rentable space. Completed in 2024, the community provides students with amenities including a rooftop pool, a fitness center, study lounges and secured garage parking.
