MIAMI, Fla. — Lloyd Jones Capital, a private equity multifamily real estate firm headquartered in Miami, Fla., has closed on Palmway Village, a 432-unit apartment complex in St. Petersburg, Fla. The property is located at 411 77th Ave North and consists of 12 apartment buildings, two pools, a fitness center and a library, spread across 15 landscaped acres.
According to Chris Finlay, Chairman and CEO of Lloyd Jones Capital, plans are in place for a large expansion of the fitness building to include a cyber café, meeting areas, and a “gig spot” for high tech collaboration. At the same time, pool decks will be enlarged and refurbished with the addition of summer kitchens and picnic areas.
The dog park will include games and obstacle courses, and even a water feature. Sunny open areas will be turned into organic gardens.
Says Finlay, “Palmway will be re-branded to our Vibe model. Our vision is to create a fun, high-tech community with computer work tables and charging stations, technology and art classes, and of course, parties – in beautiful indoor and outdoor settings.” According to Finlay, the new name will be The Vibe at Gateway.
This is the third closing for Lloyd Jones Capital in recent months. The addition two closings are in Texas, with an additional closing scheduled for early November.
ABOUT LLOYD JONES CAPITAL
Lloyd Jones Capital is a private equity real estate firm that specializes in the multifamily sector. With 35 years of experience in the real estate industry, the firm acquires, improves and operates multifamily real estate in growth markets throughout Texas, Florida and the Southeast.
Lloyd Jones Capital provides a fully integrated investment/operations platform. Its property management arm partners with the investment team to provide unparalleled local expertise in each of its markets. Headquartered in Miami, the firm has offices throughout Texas and Florida. The firm’s investors include institutional partners, private investors and company principals. For more information visit lloydjones.wpengine.com.
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Lloyd Jones Capital