Jay Lobell, Bill Grant And Andy Penev Lease Retail And Condo Units In Naples, Florida For $201.7M

The transaction involves a condominium and retail asset located at The Avenue - 900-1000 5th Ave South in Naples, Florida, comprising a total of 50 units. The loan amount secured for this development is $201,700,000, structured as a combination of a construction loan and C-PACE financing.

Summary of transaction details:

• Property Type: Condo & Retail
• Transaction Amount: $201,700,000
• Lender: A.K Prabhakar, Kyle Rowe, Matthew Philip & Anne Hill - Bayview Commercial Mortgage Finance
• Landlord: Jay Lobell & Bill Grant - JSB Capital & Andy Penev - APREA
• Brokers: Scott Aiese & Alex Staikos - JLL
• Loan Type: Construction & CPACE

This transaction sees key industry players involved, including the lender Bayview Commercial Mortgage Finance alongside its affiliate, Bayview PACE, which provided the financing package. The landlords, Jay Lobell and Bill Grant from JSB Capital, along with Andy Penev from APREA, are instrumental in this project. The brokers assisting in this deal are Scott Aiese and Alex Staikos affiliated with JLL.