Key International Secures $121 Million Construction Loan For Amara Bay Residences & Marina In St. Petersburg

Amara Bay Residences & Marina is a 39-acre waterfront mixed-use development site located at 12000 Gandy Boulevard N in St. Petersburg. The project involves a construction loan amounting to $121 million for the development of 415 luxury apartments and a 150-slip marina, along with extensive resort-style amenities. The initial buildings of the project are expected for delivery by Q4 2026.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $121,000,000
• Lender: Abanca USA
• Landlord: Diego Ardid, Inigo Ardid & Jose Ardid
• Company: Key International
• Market: St. Petersburg
• Asset Type: Waterfront mixed-use project
• Acreage: 39

Key International, represented by Diego Ardid, Inigo Ardid, and Jose Ardid, is driving the Amara Bay project, highlighting their commitment to developing luxury living spaces and recreational facilities. The financing from Abanca USA reflects the growth and potential in the St. Petersburg market.