$117M construction loan arranged for AQUA at Westshore Yacht Club, Tampa’s luxury waterfront condominium residences

MIAMI, Oct. 15, 2024 – JLL Capital Markets announced today that it has secured $117 million in construction financing for Phase I of AQUA at Westshore Yacht Club, featuring 77 waterfront condominium residences and 9 luxury villas in Tampa Bay, Florida.

JLL worked on behalf of Westshore Group to secure the capital. This is the third transaction that JLL closes with the partners of Westshore Group.

AQUA at Westshore Yacht Club is a premier waterfront development situated on a 6.1-acre site, poised to offer 248 luxurious residences, including 237 condominiums and 11 villas. The development, being built by Coastal Construction, will unfold in three phases, each phase featuring a 17-story condo tower with two-, three- and four-bedroom units. Nestled within an exclusive yacht club community, the luxury residences live like single-family homes boasting private elevators, expansive through-view floorplans and stunning panoramic views of Tampa Bay. Community amenities include a rooftop sky-pool, fitness center overlooking the bay, spa and steam rooms, pickleball court, golf simulator, movie theatre, kids’ area, concierge and valet parking. The community also features a 173-slip Marina as well as the members-only Bay Club, a staple of South Tampa.

AQUA is conveniently located just 15 minutes from downtown Tampa, offering easy access to Tampa Bay’s most exciting dining and shopping concepts, as well as easy access to the beautiful beaches of Florida’s Gulf Coast.

JLL Capital Market’s team representing Westshore Group was spearheaded by Managing Director Max La Cava and Director Jimmy Calvo.

“We are honoured to have partnered with Westshore Group to successfully arrange and structure the financing for AQUA at Westshore Yacht Club – which represents one of the largest condo construction financings in the history of the Gulf Coast of Florida,” said La Cava. “Seeing the project take shape is a fulfilment of Eddie Avila’s (lead developer of Westshore Group) vision for the future of Tampa Bay. AQUA is setting a new standard for waterfront living and cementing Tampa as a luxury destination for Americans and global citizens alike.”

Avila, who got his start in the 1970s as Vice President of Cheezem Development, the company responsible for some of the most groundbreaking high-rises in Miami and the Gulf Coast of Florida, added “a top-level team of experts including CGJH, IDDI Design and Coastal Construction are just a few of the extraordinary partners that we have chosen to assure that AQUA is a resounding success.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Westshore Group LLC, led by renowned Florida developers with 60 years of combined experience, who have overseen thousands of units of residential developments during their multi-decade career. Also onboard is the multinational conglomerate Wellcot, which is dedicated to investing in and developing properties of outstanding quality throughout the United States.