{"id":323421,"date":"2026-06-29T15:37:56","date_gmt":"2026-06-29T15:37:56","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/323421\/"},"modified":"2026-06-29T15:37:56","modified_gmt":"2026-06-29T15:37:56","slug":"affinius-provides-135m-construction-loan-in-st-petersburg-for-mixed-use-tower-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/323421\/","title":{"rendered":"Affinius Provides $135M Construction Loan in St. Petersburg for Mixed-Use Tower \u2013 Commercial Observer"},"content":{"rendered":"

A joint venture between Focus<\/a> and Bradford Allen<\/a> has secured $135 million in construction financing to build 275 Fifth Street, a 24-story, 373-unit mixed-use multifamily tower in St. Petersburg, Fla., Commercial Observer can first report.\u00a0<\/p>\n

Affinius Capital<\/a> provided the debt on the deal. No brokers were listed on the transaction.\u00a0<\/p>\n

SEE ALSO: U.K. Firm Bridgepoint Group to Acquire Kayne Anderson Real Estate in $1.4B Deal<\/a><\/p>\n

Eric Cohen, co-head of debt originations at Affinus, described 275 Fifth Street in a statement as an \u201cinstitutional-quality asset\u201d and praised the Downtown St. Petersburg corridor as being \u201cone of Florida\u2019s fastest-growing urban cores.\u201d\u00a0<\/p>\n

\u201cThis project is well positioned to capture continued demand for high-quality urban residential product,\u201d Cohen added.\u00a0<\/p>\n

Located of Fifth Street South in the heart of Downtown St. Petersburg\u2019s Central Arts District and the Tampa Bay Waterfront Art District, 275 Fifth Street is within walking distance of nearby piers that extend into Tampa Bay. It benefits from access to the city\u2019s transportation network that includes the PSTA bus system, the Downtown Looper, and the Central Avenue Trolleys.\u00a0<\/p>\n

\u201cDowntown St. Petersburg has experienced rapid population growth, making it highly attractive from an investment standpoint,\u201d said Brian Carley, senior vice president of development at Bradford Allen.\u00a0<\/p>\n

275 Fifth Street will feature a mix of one- and two-bedroom apartments, as well as 6,384 square feet of ground-floor retail. On-site amenities will include an outdoor swimming pool, a fitness center and coworking space.\u00a0<\/p>\n

Tim Anderson, founder and CEO of Chicago-based Focus, noted in his remarks that Downtown St. Petersburg has displayed several residential development tailwinds, namely a growing population, an expanding employment network, and ongoing demand for rental housing.\u00a0<\/p>\n

\u201cProjects that begin construction today are positioned to deliver into a more balanced supply environment,\u201d said Anderson.<\/p>\n

Completion is scheduled for 2028.<\/p>\n

Brian Pascus can be reached at bpascus@commercialobserver.com<\/a>.<\/p>\n

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