Kolter Urban and BH Group Secure $197M Loan for Naples Condos

• Kolter Urban and BH Group secured $197 million in construction financing for Olana Naples Residences at 1121 Gulf Shore Boulevard North.
• The project will deliver just 12 ultra-luxury beachfront residences, each spanning roughly 10,000 square feetand starting at $32 million.
• Apollo Global Management and BDT & MSD Partners provided the construction debt as the developers prepare to break ground this fall.

What Is Being Built At 1121 Gulf Shore Boulevard North

Olana Naples is planned as a highly exclusive 12-unit beachfront condominium on Naples' Gulf Coast. The development is positioned along the stretch of Gulf Shore Boulevard North known for its luxury residential properties and direct Gulf access.

Each residence will offer roughly 10,000 square feet, with expansive beachfront views and large outdoor living areas. The project is expected to rise six stories, with completion targeted for 2028.

The development also has approximately 220 linear feet of beach frontage, according to BH Group, putting the project in a particularly limited category of Naples waterfront development sites.

What The $197M Financing Means

The developers secured $197 million in construction financing from affiliates of Apollo Global Management and BDT & MSD Partners.

The debt arrives as the project moves toward construction, giving the development team the capital needed to execute one of Naples' most expensive new condominium projects. The financing is also a major vote of confidence in the ultra-luxury segment, where the lowest-priced Olana residence is expected to start at $32 million.

For investors, the deal is notable because the project is targeting a very narrow buyer pool while carrying a large construction budget. The financing demonstrates that institutional capital remains willing to back highly differentiated luxury residential projects when the location and product are considered irreplaceable.

What Buyers Will Get At Olana

Olana is being positioned more like a collection of private estates than traditional condominiums.

Residences will feature private wellness spaces, steam rooms and saunas, soundproof theaters, wine rooms, club rooms, game lounges and expansive Gulf-front terraces. Ground-floor residences will also have private pools and direct beach access.

The project will offer direct beachfront access, concierge services, resort-style amenities and private cabanas. The goal is to combine the space and privacy of a single-family estate with the services and convenience of condominium living.

What The Development Team Brings To Naples

Kolter Urban and BH Group are partnering on a project that fits both companies' focus on high-end residential development.

Kolter Urban has developed luxury condominium communities across Florida, while BH Group specializes in luxury residential, land, mixed-use and hospitality investments across South Florida. BH Group says it has completed more than 1,100 residential units, with more than 10,000 additional units in development.

The partnership also gives Olana a connection to Kolter's growing Naples pipeline. The company is developing another ultra-luxury Gulf Shore Boulevard project, adding to the broader redevelopment taking place along Naples' waterfront.

What The Design Says About Naples Luxury Housing

Olana is targeting buyers who want privacy, space and beachfront access, rather than a high-density condominium experience.

Randall Stofft Architects and SB Architects are leading the architectural design, while Champalimaud Design is handling interiors. The sales effort is being handled exclusively by Premier Sotheby's International Realty, giving the project access to a major luxury brokerage network in Southwest Florida.

With only 12 residences and a starting price of $32 million, Olana represents the extreme upper end of Naples' new-construction market. The successful closing of $197 million in construction financing suggests lenders and institutional investors see enough depth in the market to support another landmark Gulf-front development.