Red Balloon Portfolio · Under Construction
Apollo Beach — US 41.
Under Construction · Ground-up development · 6576 N US Hwy 41, Apollo Beach, FL
Rendering
90,399
Gross square feet
68,675
Net rentable SF
714
Units
$12.13M
Project cost (budget)
The Project
First ground-up development from RBS Fund I.
RBS purchased the US 41 site in June 2023, in a retail corridor at the entrance to the Apollo Beach community in the Tampa MSA. The site sits adjacent to a Publix-anchored center with more than 35,000 vehicles per day on US 41.
Construction financing was secured from First Horizon at approximately 70% loan-to-cost, and construction started in May 2025. Lease-up will be handled under third-party management.
| Location | 6576 N US Hwy 41, Apollo Beach, FL |
| Type | Ground-up development |
| Status | Under Construction |
| Gross SF | 90,399 |
| Net rentable SF | 68,675 |
| Units | 714 |
| Land purchase | Jun 2023 |
| Construction start | May 2025 |
| Total project cost (budget) | $12.13M |
| Equity | $3.64M |
| Construction loan | $8.49M · First Horizon, ~70% LTC |
