ST. PETERSBURG, Fla. — June 29, 2026 — Bradford Allen, a national full-service commercial real estate development and advisory firm, and Focus, a real estate company that integrates design, construction and financial expertise, today announced the closing of construction financing for 275 5th Street in St. Petersburg, Fla. Affinius Capital LLC originated the $135 million loan for the ground-up development of the 24-story mixed-use building.
“St. Petersburg continues to attract residents and businesses seeking a vibrant, walkable urban environment in the central business district,” said Bradford Allen’s Brian Carley, senior vice president, development. “275 5th Street builds on that growth by delivering new housing and retail space that complements the character of the neighborhood and supports its long-term trajectory.”
Located in downtown St. Petersburg, the 373-unit development will feature a mix of one- and two-bedroom apartments, as well as 6,384 square feet of retail. Construction completion is slated for 2028.
“Projects that begin construction today are positioned to deliver into a more balanced supply environment,” said Tim Anderson, founder and CEO of Focus. “Downtown St. Petersburg continues to benefit from population growth, employment expansion and strong renter demand, making this an ideal time to bring new housing to the market.”
Designed by PLACE Architecture, the robust amenity package includes a fitness center with dedicated yoga and spin studios, coworking space and resident lounges. Outdoor offerings will include a resort-style swimming pool, pool deck and spaces for relaxation.
“275 5th Street is exactly the kind of institutional-quality asset we look to back with a premier location in one of Florida’s fastest-growing urban cores,” said Eric Cohen, co-head of debt originations at Affinius Capital. “This project is well-positioned to capture continued demand for high-quality urban residential product, and Bradford Allen and Focus Development bring the experience and track record to execute. We look forward to growing these partnerships.”
Located in downtown St. Petersburg, 275 5th Street is steps from the Tampa Bay waterfront and two blocks south of Central Avenue, one of the city’s primary commercial corridors. The site is serviced by the PSTA bus network, the Downtown Looper, Central Avenue Trolleys and the Pinellas Trail.
About Bradford Allen
Bradford Allen is a national commercial real estate services and investment firm headquartered in downtown Chicago. Founded in 2003 by Jeffrey Bernstein and Laurence Elbaum, the company’s vertically integrated platform services entrepreneurial, corporate and not-for-profit clients in every sector. Bradford Allen offers end-to-end solutions to owners, occupiers and investors through brokerage and advisory services, building operations and management, program management and consulting, and real estate investments and development. For more information, visit bradfordallen.com.
About Focus
Focus is a real estate company operating at the intersection of development, construction and investment. Since 1993 the firm has delivered distinctive developments valued at nearly $2.4 billion and total over 6,500 multifamily units. These projects range from smaller communities in historic districts to high-density, mixed-use redevelopments in thriving downtowns. For more information, visit workwithfocus.com.
About Affinius Capital LLC
Affinius Capital® is an integrated institutional real estate investment firm focused on value creation and income generation. With a 40-year track record and $61 billion in assets under management, Affinius has a diversified portfolio across North America and Europe providing both equity and credit to its trusted partners and on behalf of its institutional clients globally. For more information, visit www.affiniuscapital.com.
Editors:
For more information, please contact Matt Baker, [email protected], (312) 267-4512 or Traci Failla, [email protected], (312) 267-4516.