Developer Secures $92M Loan For 17-Story Marina Pointe Condos

TAMPA, FL — Fort Lauderdale-based real estate development firm BTI Partners has secured a $92 million construction loan for phase one of Marina Pointe, a luxury waterfront three-tower development along Tampa Bay.

Marina Pointe, currently under construction in the heart of 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, involving one of the largest condo construction loans in Tampa, closed in late December. Marina Pointe’s phase one consists of a 120-unit, 17-story condo tower, 78 marina slips and 32,151 square feet of retail.

BTI Partners broke ground on the first tower in the summer and it will be completed in 2022. Marina Pointe will eventually include two more towers totaling 227 residences and additional marina slips.

“Marina Pointe has raised the bar for Tampa-St. Pete’s waterfront living, boosting demand for luxury condos in this market,” said BTI Partners CEO Noah Breakstone. “Since the onset of the pandemic, people from the Northeast and the Midwest have been moving 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 as well as 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 market.”

Located south of downtown Tampa, the waterfront location includes 1.5 miles of waterfront walking trails with a variety of restaurants and shops. The master-planned community is also home to two luxury multifamily communities totaling 747 units and a for-sale townhome community, which will include 155 units upon completion.

The Marina Pointe’s residential tower features state-of-the-art facilities, including 24-hour doorman/concierge, fitness center, amenity deck overlooking the marina, resident club with entertainment room and virtual golf simulator.

Individual condo unit sizes range from 1,750 to more than 4,500 square feet and offer a variety of floor plans, ranging from two to five bedrooms. The condo residences feature private elevators, up to 10-foot ceilings, floor-to-ceiling glass walls and windows, and oversized balconies with panoramic views of Old Tampa Bay and downtown St. Petersburg.

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