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.Â
The Avenue will introduce 75,000 square feet of boutique retail, dining, wellness, and lifestyle offerings beneath a limited collection of 50 luxury residences.Â
Construction is being led by DeAngelis Diamond. Move-ins anticipated in early 2028.
The post JV Lands $202M Construction Financing for Naples Mixed-Use Venture appeared first on Connect CRE.
​Â
