Marcus & Millichap Capital Corporation secures $91 million in construction financing for two multifamily projects

Naples, FL Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $91.4 million in financing for the construction of two multifamily assets: Vintana at Vanderbilt, a 150-unit apartment property, and The Karlyn, a 159-unit, active adult community for residents aged 55 and older.

Gary Sefcik, based in MMCC’s Manhattan office, secured the financing. The capital stack includes $78.9 million in senior debt provided by Kayne Anderson and $12.5 million in mezzanine financing from SteepRock Capital on behalf of the sponsor, Roers Companies.

Vintana at Vanderbilt, located at 3375 Vanderbilt Beach Road, is adjacent to the Ritz-Carlton golf course and within a short drive of Naples beaches. The Karlyn, at 7576 Immokalee Road, is also near the Gulf Coast shoreline. Both projects are slated for completion in 2027 and will feature high-end finishes and resort-style amenities.

“The financing package demonstrates that lenders remain eager to aggressively pursue Florida multifamily projects when strong sponsorship is combined with a compelling submarket story,” said Sefcik. “Ranked as the No. 1 place to live in the United States, Naples has high barriers to entry, stringent zoning regulations and limited availability of multifamily-zoned sites.”