{"id":51452,"date":"2024-08-26T10:09:34","date_gmt":"2024-08-26T17:09:34","guid":{"rendered":"https:\/\/yieldpro.com\/?p=51452"},"modified":"2024-08-26T10:09:34","modified_gmt":"2024-08-26T17:09:34","slug":"rosewood-residences","status":"publish","type":"post","link":"https:\/\/yieldpro.com\/2024\/08\/rosewood-residences\/","title":{"rendered":"JLL Arranged the Construction Financing for Rosewood Residences, a Joint Venture Between The Ronto Group and Wheelock Street Capital"},"content":{"rendered":"
JLL Capital Markets<\/a> announced that it has arranged a $234 million construction financing for Rosewood Residences Naples<\/a>, a 42-unit, ultra-luxury, water-front condominium development situated directly on the beach in Naples, Florida.<\/p>\n JLL<\/a> represented the borrowers, The Ronto Group<\/a> and Wheelock Street Capital<\/a>, to secure the loan from affiliates managed by Apollo<\/a>.<\/p>\n The property is expected to be completed in the third quarter of 2026 and will showcase two stunning buildings boasting a collection of spacious three- and four-bedroom residences averaging 5,175 square feet, along with lavish penthouses ranging from 5,170 to 9,601 square feet. Each home will offer oversized living areas, floor-to-ceiling windows, gourmet kitchens, luxurious baths, two terraces with outdoor kitchens and private elevators. Residents will indulge in a wealth of indoor and outdoor amenities, including a sun deck with resort-style pool, zero-edge lap pools, multiple spas, game rooms, lounges and gated beach access.<\/p>\n The JLL Capital Market\u2019s Debt Advisory team representing the borrower was led by Senior Managing Director Steven Klein, Managing Director Brian Gaswirth, Associate Paul Adams and Analyst Shane Ciacci.<\/p>\n \u201cIt was a privilege to once again partner with The Ronto Group and Wheelock Street Capital on their second Rosewood Residences project on Florida\u2019s west coast,\u201d said Klein. \u201cThey continue to raise the bar with another incredible ultra-luxury beachfront community that will redefine the Naples condo market.\u201d<\/p>\n JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients \u2014 whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.<\/p>\n Since 1967, The Ronto Group has been perfecting their skills in real estate development through the creation of residential and commercial projects worldwide. For over thirty years, Ronto has been developing in the Southwest Florida market, creating communities that celebrate the area’s irresistible appeal, from Marco Island to Tampa. Ronto and its President and owner Anthony Solomon, have built a solid reputation for imaginative vision, steadfast integrity, and reliable performance.<\/p>\n Wheelock Street Capital L.L.C. is a private real estate investment firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul, two veteran real estate private equity investors, each with over 30 years of broad real estate transaction experience across all major asset classes. Wheelock has assembled a premier investment and asset management team and produced an over 10- year track record of demonstrated and consistent outperformance over industry benchmarks. Since inception, Wheelock has raised eight funds, representing over $5 billion in capital commitments and deployed over $11 billion in total value on behalf of well-known institutional investors. This includes a targeted $1.2 billion and $1 billion of capital that the Firm is currently deploying in its opportunistic\/value-add vehicle and open- end long-term value vehicle, respectively.<\/p>\n