News Summary
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.
Significant Financing Secured for Multifamily Developments in Naples, Florida
Marcus & Millichap Capital Corporation (MMCC) has successfully arranged $91.4 million in financing for two prominent multifamily construction projects in Naples, Florida. This financial arrangement underscores the strong demand for residential developments in the area, particularly as Naples continues to rank among the top places to live in the United States.
Details of the Construction Projects
The financing will support two distinct projects:
- Vintana at Vanderbilt: This development will feature a 150-unit apartment property located at 3375 Vanderbilt Beach Road, strategically placed next to the Ritz-Carlton golf course and in close proximity to Naples’ stunning beaches.
- The Karlyn: This project will consist of a 159-unit active adult community tailored for residents aged 55 and older, situated at 7576 Immokalee Road, also near the Gulf Coast shoreline.
Both projects are slated for completion in 2027 and are expected to showcase high-end finishes and resort-style amenities that cater to the lifestyle preferences of their future residents.
Financing Breakdown
The financing structure for these multifamily developments is comprised of a combination of debt and mezzanine financing. The breakdown includes $78.9 million in senior debt provided by Kayne Anderson and $12.5 million in mezzanine financing facilitated by SteepRock Capital on behalf of the sponsor, Roers Companies. This diversified financing approach reflects a significant interest from lenders to invest in Florida’s multifamily housing sector, particularly when paired with strong sponsorships and favorable market characteristics.
Market Insights
Naples, Florida, is known for its high barriers to entry into the real estate market, which includes stringent zoning regulations and limited availability of multifamily-zoned sites. As a result, developments such as Vintana at Vanderbilt and The Karlyn are of paramount importance in meeting the growing demand for residential units in the region. The city is recognized for its high quality of life, making it a desirable location for many.
About Marcus & Millichap Capital Corporation
MMCC is a subsidiary of Marcus & Millichap, a recognized entity in commercial real estate investment services, which operates under the public company listing of NYSE: MMI. The corporation has shown promising performance in recent years, with MMCC completing 1,249 transactions totaling roughly $9.1 billion in 2024 alone. In the same year, parent company Marcus & Millichap successfully closed 7,836 transactions, achieving a sales volume nearing $49.6 billion. The organization employs 1,712 investment sales and financing professionals across more than 80 offices nationwide, contributing to its strong market presence.
Implications for the Future
The financing secured for the developments in Naples is indicative of the ongoing growth and investment interest in the multifamily housing sector, especially in areas recognized for their desirable living conditions. As these projects advance toward their completion in 2027, they will undoubtedly contribute to the region’s residential landscape, enhancing the community and offering much-needed housing options for its residents.
Deeper Dive: News & Info About This Topic
Additional Resources
- Business Wire: Marcus & Millichap Capital Corporation Secures $91M
- Connect CRE: Roers Obtains $91.4M Financing for Naples Apartments
- MSN: Marcus & Millichap Secures $91M for Project in Southwest Florida
- Wikipedia: Naples, Florida
- Google Search: Multifamily Real Estate Florida
Author: Construction CA News
CALIFORNIA STAFF WRITER The CALIFORNIA STAFF WRITER represents the experienced team at constructioncanews.com, your go-to source for actionable local news and information in California and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Rose Parade, Coachella, Comic-Con, and the California State Fair. Our coverage extends to key organizations like the California Building Industry Association and Associated General Contractors of California, plus leading businesses in technology and entertainment that power the local economy such as Apple and Alphabet. As part of the broader network, including constructionnynews.com, constructiontxnews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic landscape across multiple states.
