The financing supports the second phase of a larger luxury development.
Allen Morris Co. has secured a $43 million loan for the construction of the second phase of Bayside, its $250 million multifamily project in Sarasota, Fla. Affinius Capital and Axonic Capital provided the financing.
The second phase of the project, encompassing 96 upscale units and eight suites, is dubbed Bayside North. Initially, the phase was estimated to break ground last year and reach completion in the second quarter of 2027, according to the developer’s website.
Development partners for the whole project include Kimley-Horn, Hoyt Architects, Dwell Design Studio as interior designer and Longboat Group, which will oversee leasing and management…