Brett Forman Of Forman Capital Provides $113.6 Million Loan For Development Site In Naples

The asset involved in the transaction is a development site located at 1933 Tamiami Trail in Naples, covering an area of 5.3 acres. The loan amount secured for this development is $113,604,228, designated for construction purposes.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $113,604,228
• Lender: Brett Forman - Forman Capital
• Loan Type: Construction
• Project Name: Aura at Metropolitan Naples
• Number of Residences: 56 luxury residences
• First Building: Ascent
• Total Residential Units in Development: 270
• Expected Completion: 2024

Brett Forman, representing Forman Capital, provided the financing for this construction project, which includes a 15-story tower and is part of a larger mixed-use development initiative. The construction of Ascent is currently underway.