GPI Real Estate utilized a $5.5 million acquisition loan to purchase three contiguous parcels totaling 150.7 acres at 9247 Kenton Road in the Wesley Chapel suburb of Tampa Bay, Florida. GPI acquired the site from LV Wesley for $5 million. Camilo Niño, Ricardo Uribe, and Alen Hernandez of Linkvest Capital facilitated the loan.Â
The site represents the majority of GPI Group’s 168-acre master-planned community, which will deliver 890 residential units, including multifamily apartments and single-family homes and 104,000 square feet of commercial space. Approximately $2.2 million of the loan is being utilized for predevelopment.
Vertical construction of the multifamily and commercial components is expected to begin in late 2025 or early 2026, with final completion of all phases anticipated by the end of 2026.
The site is fully entitled under Mixed Planned Unit Development (MPUD) zoning.
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