Strategic Property Partners secured a $664.1m loan to finance the construction of two towers at its mixed-use Water Street Tampa scheme. The funding was provided by Bank OZK. Once completed in 2027, the 50-acre project will include 1 million sq ft of cultural and retail space, 3,500 residential units, a 26-story JW Marriott and condominiums. Tampa Bay Lightning owner Jeff Vinik and Cascade Investment, the investment fund controlled by Microsoft co-founder Bill Gates, are development partners.
