JLL arranges $463M bridge financing for 8-property multifamily portfolio

The Barings loan retired existing construction loans across all eight Thompson Thrift properties.

Rhea-AI Summary

JLL (NYSE: JLL) arranged $463 million in bridge financing for Thompson Thrift’s newly delivered multifamily portfolio across three states. Barings provided the floating-rate construction take-out loan, which replaces construction financing, with JLL working exclusively on behalf of Thompson Thrift. The proceeds retired existing construction loans across all eight properties.

The portfolio comprises 2,412 Class A apartment units across Florida, Georgia and Arizona. The properties were delivered in phases throughout 2025 and 2026. They span seven metropolitan areas: Orlando, Pensacola, North Port-Sarasota-Bradenton, Vero Beach, Palm Bay-Melbourne-Titusville, Atlanta and Phoenix. Individual communities range from 268 to 380 units, with an average unit size of 1,023 square feet across the portfolio.

Positive

• Minor point$463 million financing arranged for Thompson Thrift completes a debt advisory transaction for JLL.

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The construction take-out financing is secured by 2,412 Class A units spanning 7 high growth markets nationwide

Key Takeaways

• JLL's Capital Markets group arranged $463 million in bridge financing for an eight-property, 2,412-unit Class A multifamily portfolio developed by Thompson Thrift
• Barings provided the floating-rate construction take-out loan for the newly delivered properties across Florida, Georgia and Arizona
• The portfolio spans seven MSAs: Orlando, Pensacola, North Port-Sarasota-Bradenton, Vero Beach, Palm Bay-Melbourne-Titusville, Atlanta and Phoenix, providing meaningful geographic diversification

CHICAGO, Oct. 13, 2026 /PRNewswire/ -- JLL's Capital Markets group announced today that it has arranged $463 million in bridge financing for Thompson Thrift's eight-property multifamily portfolio comprising 2,412 Class A apartment units across Florida, Georgia and Arizona.

Working exclusively on behalf of Thompson Thrift, JLL secured the floating-rate construction take-out loan through Barings, with Daniel Hedgepeth leading the financing. The proceeds retired existing construction loans across all eight properties, which were delivered on a phased basis throughout 2025 and 2026.

The portfolio consists of brand-new Class A communities strategically located across seven MSAs:

• Standard441 in Orlando (300 units)
• The Quinn in Pensacola (324 units)
• The Pullman in Atlanta (276 units)
• Stella in Phoenix (308 units)
• The Stadler in North Port-Sarasota-Bradenton (280 units)
• Verity in Vero Beach (276 units)
• The Junction at Rockledge in Palm Bay-Melbourne-Titusville (380 units)
• The Hadley in North Port-Sarasota-Bradenton (268 units)

Properties range from 268 to 380 units with an average unit size of 1,023 square feet.

Each property features luxury amenities and premium finishes synonymous with the Thompson Thrift brand, such as 24-hour fitness centers, resort-style swimming pools, resident social hubs with coffee bars, pickleball courts, dog parks with pet spas, business centers and thoughtfully designed outdoor spaces. Unit interiors feature gourmet kitchens with stainless steel appliances, quartz or granite countertops, smart home technology, full-size washers and dryers, and private balconies or patios. Thompson Thrift built differentiated product to fit the demand profile of each micro location, with properties strategically positioned near retail corridors, major employers, military and aerospace facilities and major transportation arteries.

JLL's Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Danny Kaufman, Director Medina Spiodic, CEO and Executive Managing Director Mark Gibson and Executive Managing Director Matthew Lawton.

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL's Capital Markets group has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL's newsroom. 

About JLL
JLL (NYSE: JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

About Thompson Thrift
Founded in 1986, Thompson Thrift has grown from a locally focused development and construction company into a full-service, integrated real estate company with a national footprint. With offices in Indianapolis and Terre Haute, Indiana; Denver; Houston; and Phoenix, the company develops, constructs, leases and manages high-quality multifamily communities. Thompson Thrift employs more than 675 team members and has developed more than $7.9 billion in ground-up real estate projects across 25 states. The company has been recognized by the National Multifamily Housing Council as one of the nation's Top Apartment Developers and Top Builders and earned its fourth consecutive Top Workplaces USA award in 2026, reflecting its commitment to excellence in the workplace and the communities it serves. To learn more, visit thompsonthrift.com.

About Barings
Barings is a $502 billion* global alternative asset manager that partners with institutional, insurance and wealth clients and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual with a minority investment from MS&AD, seeks to deliver excess returns by leveraging its global scale and capabilities across credit, real assets, capital solutions and emerging markets.

*As of June 30, 2026

Contact: Kristen Murphy, JLL Director, PR
Phone: 617 543 4873
Email: kristen.murphy@jll.com

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SOURCE JLL

FAQ

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How much financing did JLL arrange for Thompson Thrift’s multifamily portfolio?

JLL arranged $463 million in bridge financing for an eight-property portfolio comprising 2,412 Class A apartment units. Barings provided the floating-rate loan, and the proceeds retired existing construction loans across all eight properties.