A luxurious multifamily development in Naples, Florida, featuring high-end finishes and resort-style amenities.
Marcus & Millichap Capital Corporation has arranged $91.4 million in financing for two multifamily projects in Naples, Florida. The funding will support Vintana at Vanderbilt and The Karlyn, which are set to enhance the residential landscape in this highly desirable area. Both developments will include high-end finishes and resort-style amenities, catering to a diverse array of residents. This financing showcases the strong interest in Florida’s real estate market, particularly in Naples, which has been ranked as the top place to live in the U.S.
Marcus & Millichap Capital Corporation (MMCC) has successfully arranged $91.4 million in financing for two major multifamily construction projects located in Naples, Florida. This substantial funding underscores the growing demand for residential developments in this highly sought-after region.
The financing supports two specific projects: Vintana at Vanderbilt and The Karlyn. Vintana at Vanderbilt will offer 150 apartment units and is strategically positioned at 3375 Vanderbilt Beach Road, near the prestigious Ritz-Carlton golf course and close to the beautiful Naples beaches. The Karlyn, on the other hand, will cater to the active adult demographic, featuring 159 units aimed at residents aged 55 and older. This community will be situated at 7576 Immokalee Road, also in proximity to the Gulf Coast shoreline.
The financing structure includes $78.9 million in senior debt from Kayne Anderson, supplemented by $12.5 million in mezzanine financing provided by SteepRock Capital on behalf of Roers Companies, the project’s sponsor. This diversified financing arrangement indicates a solid backing for both developments as they move toward completion.
Construction on these projects is expected to wrap up by 2027, with both developments promising high-end finishes and a range of resort-style amenities designed to appeal to today’s urban dwellers. The enhancements will not only cater to the needs of residents but also elevate the living experience in Naples.
The financing received for these projects reflects the strong interest from lenders to invest in multifamily properties across Florida, particularly when such projects are underpinned by robust sponsorship and favorable market characteristics. Naples has gained recognition as the top place to live in the United States, marked by high barriers to entry, strict zoning regulations, and a limited supply of multifamily-zoned land.
MMCC operates as a subsidiary of Marcus & Millichap, a publicly traded company specializing in commercial real estate investment services. In 2024, MMCC recorded 1,249 transactions worth a total of $9.1 billion. The parent company also demonstrated considerable activity with 7,836 transactions, achieving a sales volume of approximately $49.6 billion with a workforce of 1,712 professionals across over 80 offices.
The securing of $91.4 million in financing for these multifamily projects in Naples marks a significant milestone for development in the area. With a focus on catering to diverse demographics and leveraging the region’s favorable market conditions, Vintana at Vanderbilt and The Karlyn are poised to contribute positively to the local real estate landscape as they head toward their projected completion in 2027.
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