Naples Developer Secures $234M Loan for High-End Condo Project

In a significant move that's set to reshape Naples' luxury real estate landscape, Stock Residences has successfully secured a substantial $234 million construction loan for its ambitious One Naples project. This financial milestone marks a pivotal moment in the development of what promises to be one of Southwest Florida's most exclusive residential enclaves.

A New Pinnacle of Luxury Living

One Naples, situated at the coveted intersection of Vanderbilt Beach Road and Gulf Shore Drive, is poised to redefine upscale coastal living. The project will feature:

• Two 12-story towers
• 58 luxurious condominiums
• Expansive floor plans ranging from 4,100 to 8,400 square feet
• Stunning views of the Gulf of Mexico and Vanderbilt Bay

Keith Bass, CEO of Stock Development, expressed his enthusiasm: "This financing represents a significant vote of confidence in our vision for One Naples. We're creating a residential experience that will set new standards for luxury living in Southwest Florida."

Financial Details and Market Confidence

The $234 million construction loan, orchestrated by Goldman Sachs and arranged by Concord Summit Capital, underscores the robust demand for high-end real estate in Naples. Key aspects of the deal include:

1. A partnership between Stock Residences and Concord Summit Capital
2. Favorable loan terms reflecting market optimism
3. Strong pre-sales performance, with over 70% of units already reserved

Kevin O'Grady, managing director at Concord Summit Capital, noted, "The exceptional pre-sales at One Naples, coupled with Stock's sterling reputation, made this an attractive opportunity for lenders."

Amenities Fit for Royalty

One Naples isn't just about lavish living spaces; it's a complete lifestyle package. Residents will enjoy:

• A private beach park
• Resort-style pool with cabanas
• State-of-the-art fitness center
• Upscale dining options
• Concierge services

These world-class amenities are designed to cater to the discerning tastes of One Naples' future residents, ensuring an unparalleled living experience.

Economic Impact and Community Benefits

The development of One Naples is expected to have a significant positive impact on the local economy:

• Creation of numerous construction jobs
• Boost to local businesses and services
• Increased property tax revenue for the county

Moreover, the project includes plans for public access improvements and beautification of the surrounding area, benefiting the broader Naples community.

Market Trends and Future Outlook

The success of One Naples in securing substantial financing and strong pre-sales reflects broader trends in the luxury real estate market:

• Growing demand for high-end, amenity-rich residences
• Continued interest in Florida's coastal communities
• Investor confidence in premium real estate projects

Industry experts suggest that projects like One Naples could set a new benchmark for luxury developments in the region, potentially influencing future real estate ventures and pricing strategies.

As construction moves forward, all eyes will be on One Naples, watching as it rises to become a new jewel in Southwest Florida's crown of luxury living. With its prime location, opulent design, and strong financial backing, One Naples is well-positioned to make a lasting impact on Naples' real estate landscape.

[References]
Business Observer FL: Naples loan luxury condos