BH Group, Kolter Urban Land $197M Naples Construction Loan
BH Group and Kolter Urban, both South Florida sponsors, secured $197M in construction financing for a 12-unit ultra-luxury condo on Naples beachfront.
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- Also reported by Commercial Observer
BH Group and Kolter Urban have landed a $197 million construction loan for Olana Naples Residences, a 12-unit ultra-luxury condo planned for 1121 Gulf Shore Boulevard North on the Naples beachfront, according to Commercial Observer and the Business Observer. Affiliates of Apollo Global Management and BDT & MSD Partners provided the financing ahead of a groundbreaking expected this fall.
Why it matters
Naples sits in Collier County, hundreds of miles from South Florida, but the sponsors do not. BH Group is based in Aventura, led by Isaac and Liat Toledano, and Kolter Urban is part of the Kolter Group, headquartered in West Palm Beach. Two SoFla-based sponsors committing close to $200 million in construction debt to the other coast is a read on where local capital thinks the next round of ultra-luxury absorption sits, and it is not only in Miami or Palm Beach. Kolter Urban says it now has roughly $5 billion in projects moving through the Gulf Coast pipeline.
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The numbers
The loan totals $197 million for a building of just 12 residences, each spanning about 10,000 square feet with 80 feet of private beach frontage and pricing that starts at $32 million. Planned amenities include a climate-controlled wine room, a soundproofed theater, a wet bar, a club room and a game lounge, with second-floor villas adding private pools and 2,000-square-foot terraces. Dividing the loan by the unit count, a number neither source outlet ran, puts construction debt at roughly $16.4 million per residence, a scale of single-asset lending usually reserved for trophy-tier product.
What’s next
Groundbreaking is targeted for later this year, with completion expected in 2028. For developers watching national capital flows out of South Florida, Olana is an early marker of how far local sponsors will travel, and how much debt lenders will still commit, for the right beachfront address.
Quick answers
- What is the latest on Olana Naples Residences?
- BH Group and Kolter Urban, both South Florida sponsors, secured $197M in construction financing for a 12-unit ultra-luxury condo on Naples beachfront.
- Who is developing Olana Naples Residences?
- BH Group and Kolter Urban LLC, according to Commercial Observer.
- What are the key numbers for Olana Naples Residences?
- Construction loan: $197M; Total residences: 12; Starting price per unit: $32M; Construction debt per unit: ~$16.4M.
On the record
Dividing the $197 million loan by Olana's 12 planned residences, a figure neither outlet published, works out to roughly $16.4 million of construction debt per unit.
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Also reported by
- Commercial ObserverApollo, BDT & MSD Partners Provide $197M for Naples Luxury Condos
- Business Observer$197M construction loan secured for Naples condo