JV Locks in $40M Construction Loan for Tampa Apartments

Legacy Partners (Legacy) and joint venture partner Bridge Investment Group (Bridge) started construction on Legacy Heights, a 240-residence apartment community coming to Tampa, Florida.

Legacy and Bridge recently closed on the undeveloped site with a $40 million construction loan from Santander Bank. Bridge Debt Capital Markets served as the broker for the transaction.

Anticipated for completion in the fall of 2026 with initial occupancy in the spring of 2026, Legacy Heights will rise six stories at 623 East Seventh Ave. Dynamik Design is the architect, while CBG Building Company is the general contractor.

The development will have 4,000 square feet of ground-floor retail. Select units will have balconies and private stoops. Amenities include a rooftop saltwater pool, outdoor kitchen and lounge, and fitness center.

This is Legacy Partners’ second multifamily development in Tampa’s urban core, joining 228-residence Legacy Encore, which opened in Dec. 2021.