Madison Communities, a leading multifamily developer, in partnership with Heitman, a global real estate investment management firm, has successfully closed a $44 million construction loan for Madison Bonita Springs, a Class A apartment community situated in the high-barriers-to-entry city of Bonita Springs, Florida.
With First Citizens Bank providing the financing, Madison Communities has demonstrated resilience in securing debt for its latest project during a national slowdown in commercial lending. Patterson Real Estate Advisors facilitated the loan, underscoring Madison Communities’ commitment to strategic partnerships in navigating complex financial arrangements.
“Securing this construction loan for Madison Bonita Springs reflects our unwavering dedication to delivering exceptional living experiences in high-demand, high-barrier markets,” said Madison Capital Group CEO, Ryan Hanks. “We are excited to collaborate with Heitman and our financial partners to bring this vision to life.”
“Madison Bonita Springs represents an excellent opportunity to capitalize on the robust economic development momentum in the area,” said Sarah Bertrand, Assistant Vice President, Heitman Private Debt Origination. “We are confident in the success of this project and its alignment with our investment objectives.”
Situated in a high-growth area between Naples and Fort Meyers, Madison Bonita Springs leverages the economic development momentum of the region. The property’s prime location directly on Bonita Beach Road and adjacent to the I-75 interchange offers convenient access to major transportation routes. Furthermore, proximity to renowned healthcare institutions like Lee Health and the NCH Healthcare System, as well as the upcoming Arthrex Headquarters, underscores the area’s appeal for residents and investors alike.
Madison Bonita Springs location also offers proximity to recreational amenities such as Barefoot Beach, luxury resorts like the Ritz Carlton Naples and Naples Grand Beach Resort, and entertainment options including the Seminole Casino Hotel in Immokalee.