Joint venture lends Polk County apartment owner nearly $18 million

By Louis Llovio
| 1:45 p.m. July 30, 2025
| 2 Free Articles Remaining!

The Lynwind Apartments sit on 26.6 acres in Polk County’s Davenport.

Tampa Bay-Lakeland

The Los Angeles owners of a Polk County apartment complex have obtained a $17.66 million loan on the community.

The mezzanine loan is on the 384-unit Lynwind Apartments in Davenport. Terms for the financing were not disclosed.

The Latigo Group-owned community is between Lake Wilson Road and Grey Heron Boulevard. It was completed in 2023 and sits on 26.6 acres. The gated community is made up of one-, two-, three- and four-bedroom units and is 91% occupied.

Latigo is a residential, mixed-use real estate development and investment company.

It currently owns five properties in Florida, including the 455-unit The Hadley in Cape Coral and the 303-unit Fiori in Naples.

The Atlanta-based ECI Group, along with its partners in a joint venture, Smith Hill Capital and InterVest, provided the financing.

It was the first investment for the joint venture.

author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.