Jones Lang LaSalle Incorporated : Financing secured for Naples luxury condo developments

MIAMI, June 17, 2021 - JLL Capital Markets announced today it arranged construction loans for Quattro at Naples Square and 1111 Central Phase II, two luxury condominium developments located in Naples, Florida.

JLL worked on behalf of the borrower, a partnership between Wheelock Street Capital and The Ronto Group, to secure both loans through MSD Partners L.P.

Quattro at Naples Square represents the fourth and final phase following the successful sell out of the previous phases of the Naples Square development. The project will consist of 64 units averaging just under 2,900 square feet. 1111 Central Phase II will consist of 72 units with an average size of just under 2,000 square feet. This project is the second of three total phases.

Both properties are located just steps away from downtown Naples which offers residents premier shopping, dining and entertainment amenities along the famed 5^th Avenue.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Steve Klein, Managing Director Brian Gaswirth and Associate Reid Carleton.

'The strong lender response resulted from the extremely successful historical partnership between Wheelock Street Capital and The Ronto Group and their unique ability to acquire, design and execute premier residential developments,' Klein said.

'Competition among debt capital providers for condominium construction financing opportunities, particularly in Florida, has accelerated over the past 12 months, and the execution on these deals illustrates how superior sponsorship with strong operational expertise can further drive the competitive process,' Gaswirth added.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge deliver best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement, or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.