Developer secures $ 92 million loan for 17-story condos in Marina Pointe

TAMPA, FL – Fort Lauderdale-based real estate development company RTC partners secured a $ 92 million construction loan for the first phase of Marina Pointe, a luxurious three-tower waterfront development along Tampa Bay.

Marina Pointe, currently under construction in the heart of the Westshore Marina District, is the result of a joint venture between BTI Partners and Westport Capital Partners, based in Stamford, Connecticut. Westshore Marina District is a 52-acre mixed-use community.

The transaction, for one of the largest condo construction loans in Tampa, closed at the end of December. The first phase of Marina Pointe consists of a 120-unit, 17-storey condo tower, 78 marina locations and 32,151 square feet of retail space.

BTI Partners inaugurated the first tower in the summer and it will be completed in 2022. Marina Pointe will eventually include two other towers totaling 227 residences and additional marina slides.

“Marina Pointe has raised the bar for waterfront living in Tampa-St. Pete, increasing the demand for luxury condos in this market, ”said BTI Partners CEO Noah Breakstone. “Since the start of the pandemic, residents of the Northeast and Midwest have moved to the Tampa market. This migration has further fueled additional demand for Marina Pointe, where residents can enjoy the safe outdoors, direct access to waterfront trails and restaurants, and other resort-style amenities. To top it off, if you are a boater, Marina Pointe is the only new luxury condo with a private marina in the Tampa-St. Pete. ”

Located south of downtown Tampa, the waterfront location includes 2.5 km of waterfront walking trails with a variety of restaurants and shops. The planned community is also home to two luxury multi-family communities totaling 747 units and a townhouse community for sale, which will include 155 units upon completion.

The residential tower of Marina Pointe has state-of-the-art facilities, including a 24-hour doorman / concierge, a fitness center, a furnished terrace overlooking the marina, a resident club with entertainment room and a virtual golf simulator.

The size of the individual condo units ranges from 1,750 to over 4,500 square feet and offers a variety of floor plans, ranging from two to five bedrooms. The condominium residences feature private elevators, ceilings up to 10 feet, floor-to-ceiling glass walls and windows, and oversized balconies with panoramic views of Old Tampa Bay and downtown Saint -Petersburg.

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