Both projects are expected to be completed in 2027.
Roers Cos., a multifamily real estate firm headquartered in Plymouth, Minn., has obtained a three-year construction loan totaling $91.4 million for its next multifamily venture in Naples, Fla. The loan was arranged by Marcus & Millichap Capital Corp.’s Gary Sefcik, with the capital funding Vitana at Vanderbilt, a 150-unit property and The Karlyn, a 159-unit 55-plus community, both on the Gulf Coast.
The financing consists of two loans: Kayne Anderson provided $78.9 million in senior debt financing and the other $12.5 million in mezzanine financing came from SteepRock Capital. These construction loans are bringing both communities one step closer to completion, which is estimated for 2027. Design plans include high-end finishes and resort-like community amenities. Both communities will feature pools, clubrooms, pickleball courts and more, with floorplans including one to three-bedroom apartments.
In early February, Roers also received a $42.9 million bridge loan to refinance Risor of St. Louis Park, a senior community in St. Louis Park, Minn…