Development Partners International has secured a $114 million construction loan for its latest project, Aura at Metropolitan. Located at 1925 Metropolitan Boulevard in Naples, Florida, this 15-story condo development will consist of 56 units and is the second phase of a larger three-phase master plan.
Thanks to an eased zoning restriction, Aura at Metropolitan was able to surpass the height restrictions imposed on other nearby buildings. This competitive advantage makes it an attractive option for potential buyers.
The prime location also adds value to the project as it is within walking distance of popular restaurants and shops on Naples’ famous 5th Avenue. Residents will also have access to various amenities such as ground-floor retail spaces, indoor and outdoor lounges, a guest suite for overnight visitors, business facilities including conference rooms and a golf putting green.
Forman Capital provided the loan for this development which was arranged by Colliers’ structured finance team led by Jeffrey Donnelly and Dmitry Levkov.
