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Highlights

  • Financing includes USD 78.9 million senior debt and USD 12.5 million mezzanine financing.
  • Projects include 150-unit Vintana at Vanderbilt and 159-unit The Karlyn.
  • Both developments scheduled for completion in 2027 with resort-style amenities.

Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap (NYSE: MMI), has arranged USD 91.4 million in financing for the construction of two multifamily developments in Naples, Florida. The projects include Vintana at Vanderbilt, a 150-unit apartment complex, and The Karlyn, a 159-unit active adult community designed for residents aged 55 and older.

The financing package, secured by Gary Sefcik from MMCC’s Manhattan office on behalf of sponsor Roers Companies, consists of USD 78.9 million in senior debt provided by Kayne Anderson and USD 12.5 million in mezzanine financing from SteepRock Capital. Both properties are located in proximity to the Gulf Coast, with premium positioning in Naples’ competitive housing market.

Vintana at Vanderbilt, situated at 3375 Vanderbilt Beach Road, is adjacent to the Ritz-Carlton golf course and within a short distance of Naples’ beaches. The Karlyn, at 7576 Immokalee Road, offers similar access to coastal amenities. Both developments are scheduled for completion in 2027 and will feature high-end finishes and resort-style amenities tailored to their target demographics.

Sefcik noted that the transaction reflects lender interest in Florida’s multifamily sector when backed by strong sponsorship and favorable market conditions. Naples, ranked as the number one place to live in the United States, has high barriers to entry due to stringent zoning and limited multifamily-zoned land availability, factors that contribute to demand stability.

Marcus & Millichap Capital Corporation specializes in arranging a range of financing solutions for commercial real estate projects, including debt, mezzanine, and equity structures. In 2024, the firm closed 1,249 transactions totaling USD 9.1 billion. Through its network, MMCC provides access to a broad capital base, enabling tailored solutions for projects in diverse markets across the U.S. and Canada.

With this financing in place, construction on Vintana at Vanderbilt and The Karlyn is expected to progress toward the planned 2027 delivery. Both projects aim to address Naples’ demand for high-quality multifamily housing and active adult living communities, supported by the region’s growing population and limited new supply.