Updated Oct 14, 2026
Thompson Thrift Secures $463 Million Loan From Barings For Multifamily Portfolio Across Multiple States
13740 Lead Lane, 5251 West Nine Mile Road, 7120 Henry Drive, 3850 11th Drive, 1019 Fusion Lane, 1450 Front Place, 4660 Derrick Road Southwest & 32449 North Gary Road
$463,000,000
Units
2,412
Asset Type
MultiFamily
Closing
Oct 13, 2026
About this deal
AI
Thompson Thrift secured a $463 million floating-rate bridge loan from Barings for an eight-property portfolio comprising 2,412 Class A apartments. The properties are located at 13740 Lead Lane, 5251 West Nine Mile Road, 7120 Henry Drive, 3850 11th Drive, 1019 Fusion Lane, 1450 Front Place, 4660 Derrick Road Southwest, and 32449 North Gary Road, situated in Lady Lake, Pensacola, Bradenton, Vero Beach, Rockledge, and North Port, Florida; Atlanta, Georgia; and San Tan Valley, Arizona.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $463,000,000
- Loan Type: Bridge
- Loan Terms: floating-rate
- Lender: Daniel Hedgepeth - Barings
- Landlord: Paul Thrift - Thompson Thrift
- Brokers: Danny Kaufman, Medina Spiodic, Mark Gibson & Matthew Lawton - JLL
The loan was arranged by JLL to refinance construction debt on these communities, which were delivered in phases throughout 2025 and 2026, with Danny Kaufman, Medina Spiodic, Mark Gibson, and Matthew Lawton leading the debt advisory team.
On the Map
$463,000,000
MultiFamily
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Players
Lady Lake MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93