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.
Marcus & Millichap Capital Corporation Finances $91.4 Million for Naples Multifamily Projects
Marcus & Millichap Capital Corporation (MMCC) has successfully arranged a substantial financing package worth $91.4 million for two multifamily construction projects located in Naples, Florida. The financing is set to spur the development of Vintana at Vanderbilt and The Karlyn, both of which are expected to be completed by 2027.
Key Project Details
The first project, Vintana at Vanderbilt, consists of a 150-unit apartment property situated at 3375 Vanderbilt Beach Road. This prime location is adjacent to the Ritz-Carlton golf course and is in close proximity to Naples’ renowned beaches. The second project, The Karlyn, is a 159-unit active adult community aimed at residents aged 55 and older, located at 7576 Immokalee Road, also near the Gulf Coast shoreline.
Financing Structure
The financing arranged by Gary Sefcik from MMCC’s Manhattan office includes $78.9 million in senior debt sourced from Kayne Anderson, in addition to $12.5 million in mezzanine financing provided by SteepRock Capital, which was secured on behalf of the project sponsor, Roers Companies. This comprehensive financing structure reflects the strong demand for multifamily projects in the vibrant Florida market.
Market Conditions
Naples has earned the title of the No. 1 place to live in the United States, offering a desirable quality of life enhanced by its stunning coastal views and diverse recreational opportunities. The region is characterized by high barriers to entry for new developments, such as stringent zoning regulations and a limited supply of multifamily-zoned sites. These factors make projects like Vintana at Vanderbilt and The Karlyn particularly appealing to investors.
Lender Confidence in Florida Multifamily Projects
The financing arrangement underscores the eagerness of lenders to invest in Florida’s multifamily sector, especially when accompanied by strong sponsorship and positive market characteristics. The appetite for such investments has remained robust as demand for housing continues to grow across the state.
Background on MMCC
Marcus & Millichap Capital Corporation is a subsidiary of Marcus & Millichap, a publicly traded company on the NYSE specializing in commercial real estate investment services. In 2024, MMCC closed a total of 1,249 transactions amounting to approximately $9.1 billion. Meanwhile, Marcus & Millichap as a whole executed 7,836 transactions with a combined sales volume of about $49.6 billion, supported by a team of 1,712 investment sales and financing professionals operating from more than 80 offices nationwide.
Future Outlook
With the construction of Vintana at Vanderbilt and The Karlyn on the horizon, the Naples community stands to benefit significantly from these new multifamily developments. Both projects are designed to feature high-end finishes and resort-style amenities, further elevating the living experience for future residents.
As the demand for quality housing continues to rise in Naples, the successful financing and upcoming developments highlight the area’s competitive investment potential in the multifamily real estate market.
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 TX News
TEXAS STAFF WRITER The TEXAS STAFF WRITER represents the experienced team at constructiontxnews.com, your go-to source for actionable local news and information in Texas 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 Texas Construction Expo, major infrastructure unveilings, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated General Contractors of Texas and the Texas Building Branch, plus leading businesses in construction and real estate that power the local economy such as Austin Commercial and CMiC Global. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
