JV Lands $202M Construction Financing for Naples Mixed-Use Venture
APREA and JSB Capital Group closed on a $202 million construction financing package with Bayview Commercial Mortgage Finance (BCMF) on The Avenue. The funding includes includes $109 million of C-PACE financing and a $93 million traditional construction loan. The milestone kickstarts construction of the mixed-use development near downtown Naples. The Avenue will include for-sale residences and retail options.
Bayview PACE, a division of BCMF, is providing $109 million in Commercial Property-Assessed Clean Energy (C-PACE) financing across two assessments and closings, in a deal brokered by JLL’s Debt Advisory team, led by Scott Aiese and Alex Staikos.
The Avenue will introduce 75,000 square feet of boutique retail, dining, wellness, and lifestyle offerings beneath a limited collection of 50 luxury residences.
Construction is being led by DeAngelis Diamond. Move-ins anticipated in early 2028.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout