PTM Partners has secured a $125 million construction loan from GID to advance the second phase of its EDGE Collective mixed-use development in downtown St. Petersburg. The new financing will support EDGE Collective II, a planned Class AA multifamily high-rise that will introduce 330 residential units and 19,000 square feet of retail space in the citys EDGE District.
The three-year, floating-rate construction loan was arranged by Berkadia on behalf of PTM Partners. The Berkadia Miami capital markets team of Scott Wadler and Alec Fox led the effort, working alongside colleagues Mitch Sinberg, Matt Robbins and Brad Williamson to structure the financing with GID. The loan provides PTM Partners with construction capital specifically targeted to the second phase of the EDGE Collective project.
Berkadia has an established relationship with PTM Partners on this development. The advisory firm previously arranged the debt and equity capitalization for the first phase of EDGE Collective, including $42 million in construction financing. That earlier financing supported the development of the Moxy St. Petersburg Downtown hotel as well as adaptive reuse elements incorporated into the broader mixed-use project.
The first phase of EDGE Collective has already begun to activate the EDGE District. The Moxy St. Petersburg Downtown opened in 2024, accompanied by restaurant and retail offerings, creative office space and shared outdoor areas designed to draw a mix of users. These initial components created a foundation of hospitality, retail and workspace that the next phase is expected to build upon.
EDGE Collective II is planned as a high-rise multifamily community that will expand the districts residential base while adding more street-level retail. With 330 units, the project is poised to significantly increase the supply of Class AA apartments in the immediate area, complementing the hospitality and commercial elements delivered in Phase I. The additional 19,000 square feet of retail space is expected to integrate into the existing ground-floor activation created by the first phase.
Together, the two phases underscore a multi-stage approach to mixed-use development in downtown St. Petersburgs EDGE District, pairing hospitality, residential, retail and creative office components. The latest construction loan from GID, arranged by Berkadia, marks a key capital milestone for PTM Partners as it advances the next chapter of the EDGE Collective project.
