Middleburg Acquires Land and Secures Financing for 330-Unit Luxury Apartment Development in Pasco County, Florida

VIENNA, Va. – (BUSINESS WIRE) – Middleburg, a leading developer and operator of rental housing throughout core Southern markets, announced today the closing of the land and construction financing for the development of Mosby Deerbrook, a 330-unit luxury apartment community located at 12014 Engle Road in Spring Hill, Florida. US Bank provided the construction loan for the project. Construction is expected to commence imminently, with the first units delivering in early 2027.

Mosby Deerbrook is strategically positioned near Moffitt Cancer Center's Speros Campus, a 775-acre campus that, at full build-out over the next few decades, will include 140 buildings, including clinics, research facilities, housing, and more. The first phase is scheduled to open in January 2026. It will feature a 91,000 sq ft outpatient center and a 26,000 sq ft proton therapy center, one of approximately 50 of its kind nationwide. Located less than 30 minutes from Tampa's Westshore Business District, Mosby Deerbrook will serve Pasco County, one of Florida's fastest-growing markets, with 130 percent population growth since 2010 and projections to add over 223,000 new residents by 2045.

“The fundamentals in Pasco County are exceptional, and it's been an incredibly active two years for Middleburg in this region,” stated Kory Geans, Chief Investment Officer for Middleburg. “We're excited to continue taking a local approach to building out a portfolio that meets renter demand in the area for high-quality, attainable housing. Mosby Deerbrook represents our commitment to serving the rapidly growing Tampa region with communities that enhance quality of life for our residents.”

Located less than a quarter mile from Suncoast Parkway, residents will have direct access to Hillsborough County, the Westshore Business District, and Tampa International Airport within a 30-minute drive. The community also provides walkability to the 42-mile paved Suncoast Trail and convenient access to highly rated public charter schools. The property will feature 113 one-bedroom, 182 two-bedroom, and 35 three-bedroom apartment homes across garden-style buildings. Additional amenities include a game lounge, pet spa, co-working lounge, activity yard, and courtyard spaces.

Pasco County has been a major focus for Middleburg, which in the last two years has commenced and completed nearly 600 units through Hamlet at Avalon Park and Mosby at Avalon Park. Both communities are situated within the Avalon Park master-planned development in Wesley Chapel, just 30 minutes from downtown Tampa.

About Middleburg

Middleburg is a leading real estate investment firm maximizing stakeholder value through a socially conscious, fully integrated approach to the acquisition, development, construction, and management of high-quality, attainable rental housing. With over two decades of multifamily sponsorship, Middleburg has acquired, developed, and financed more than 32,000 multifamily units, exceeding over $4.5 billion in transactions since 2004. For more information, please visit www.middleburg.com.

Contacts:

middleburg@icrinc.com