Development Site in the Naples market comprising 309 units, located at 3375 Vanderbilt Beach Road & 7576 Immokalee Road. Asset type: Development Site; Units: 309; Market: Naples. Loan amount: $91,400,000. Landlord: Brian Roers - Roers Cos. Lender: Kayne Anderson & SteepRock Capital. Broker: Gary Sefcik - Marcus & Millichap Capital Corp.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $91,400,000
• Market: Naples
• Addresses: 3375 Vanderbilt Beach Road; 7576 Immokalee Road
• Units: 309
• Lender: Kayne Anderson & SteepRock Capital
• Landlord: Brian Roers - Roers Cos
• Broker: Gary Sefcik - Marcus & Millichap Capital Corp
• Note: Marcus & Millichap Capital Corp. arranged $91.4M for Roers Companies to build two Naples multifamily projects: the 150-unit Vintana at Vanderbilt and the 159-unit, 55+ Karlyn. The package includes $78.9M senior debt from Kayne Anderson and $12.5M mezzanine financing from SteepRock Capital, with completion set for 2027.

The financing creates a structure to support two Naples multifamily projects: Vintana at Vanderbilt (150 units) and Karlyn (159 units, 55+), with completion targeted for 2027.