Aprea, JSB snag $202M construction financing as Naples luxury market soars
Aprea Development and JSB Capital Group landed a $202 million construction financing package for The Avenue, a luxury mixed-use development in downtown Naples. Bayview Commercial Mortgage Finance provided the package, which includes a $93 million traditional construction loan and $109 million of C-PACE financing, according to a news release. The latter financing was provided by Bayview PACE, a division of BCMF, in a deal brokered by JLL’s debt advisory team, the release said. Aprea, which is leading the development with JSB Capital Group as a co-developer and capital partner, started construction on The Avenue on Fifth Avenue South earlier this […]This article originally appeared on The Real Deal. Click here to read the full story.
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