Dwight Capital REIT has provided a $75 million construction loan for Montage at Midtown, a 321-unit multifamily project in Fort Myers. This development is expected to revitalize the Midtown area in Downtown Fort Myers and will consist of a four-story apartment building, five-story clubhouse, six-story parking garage, and five courtyards on approximately five acres. The property will offer amenities such as a pool, pet park and spa, coffee shop, community car and bike sharing programs,and BBQ areas.
Construction of Montage at Midtown is being carried out with industry-recognized energy-efficient standards and is scheduled for completion by December 2025. Tammy Tate from Dwight was responsible for originating this transaction on behalf of the developer,Catalyst Community Development.
According to Joseph R.Bonora from Catalyst,”In these challenging times where obtaining construction financing can be difficult,it was fortunate that we were able to work with an understanding lender who recognized the exceptional qualities of this project.”
