Rendering of two planned Naples apartment communities featuring resort-style amenities and landscaped common areas.
, August 15, 2025
Roers Cos. obtained a three-year construction loan totaling $91.4 million to advance two new multifamily communities in Naples, Florida. The capital stack includes $78.9 million in senior debt from Kayne Anderson and $12.5 million in mezzanine financing from SteepRock Capital, arranged by a Marcus & Millichap Capital Corporation representative. Vintana at Vanderbilt (150 units) and The Karlyn (159-unit 55-plus community) will feature one- to three-bedroom layouts, resort-style amenities such as pools, clubrooms and pickleball courts, and upscale finishes. Both sites are located near retail, recreation and a regional park, with delivery targeted near the end of the construction term.
A three-year construction loan totaling $91.4 million has been secured to build two apartment communities in Naples, Florida, moving both projects closer to an expected 2027 completion. The financing covers a 150-unit community at 3375 Vanderbilt Beach Road and a 159-unit 55-plus community at 7576 Immokalee Road.
The $91.4 million package is split into a $78.9 million senior construction loan and a $12.5 million mezzanine loan. The senior debt is provided by Kayne Anderson and the mezzanine tranche comes from SteepRock Capital. The financing was arranged by a capital markets team at a national commercial real estate finance firm on behalf of the sponsor, Roers Cos., a multifamily real estate firm based in Plymouth, Minnesota.
The funds will support two separate developments. The first, referred to as Vintana at Vanderbilt (also noted in some materials as Vitana at Vanderbilt), will offer 150 apartments and sit adjacent to a well-known golf course near Vanderbilt Beach. The second, The Karlyn, is a 159-unit active adult community designed for residents aged 55 and older and is located on the busy east-west thoroughfare Immokalee Road.
Both communities are designed with high-end finishes and resort-style amenities. Planned common features include pools, clubrooms and pickleball courts, along with other resident spaces. Apartment options will range from one- to three-bedroom floorplans, while The Karlyn will focus on active adult layouts and community programming.
The two sites sit less than five miles apart, separated by North Collier Regional Park. Both are within easy driving distance of beaches and have nearby shopping, dining and other services. One site is adjacent to a prominent golf course and the other sits on a heavily developed corridor that offers retail, restaurants, golf and cultural centers. Those local attributes are cited as part of the appeal for development and resident demand.
Lenders provided construction capital that balances senior and mezzanine funding to bridge the development gap common in today’s market. The area’s strict zoning rules, limited multifamily-zoned land and high barriers to entry have kept supply tight, supporting investor interest when a strong sponsor and site are paired together.
The Naples market has seen multiple large projects move forward, including a recent topping out of a nearby luxury condominium project and several sizable loans and refinancings tied to seniors housing and mixed-use towers. Other local transactions this year include a bridge loan taken by Roers for a Minnesota senior community and separate construction and refinance activity tied to senior and luxury housing in the region. Those moves underline active construction financing and a broader appetite for South Florida residential product in well-positioned submarkets.
Roers Cos. is headquartered in Plymouth, Minnesota, and the deal was placed by a national capital markets team that provides debt and equity financing solutions. That firm reported substantial transaction volume in recent years as it arranges construction loans, mezzanine financing and other capital services for commercial real estate sponsors.
Both projects are expected to reach completion in 2027. Construction lenders have provided the funds on a three-year schedule to support site work, building construction and amenity build-out. Sponsors and contractors will move into design finalization and permitting phases where required before major vertical construction ramps up.
The two developments add a mix of market-rate and active adult housing to a coastal market with limited multifamily supply. The projects are positioned to attract residents seeking new construction product with modern finishes and lifestyle amenities near Gulf Coast beaches and regional retail corridors.
The financing covers two Naples developments: Vintana at Vanderbilt (150 units) and The Karlyn (159 units, 55-plus).
A three-year construction package totals $91.4 million, made up of $78.9 million in senior debt and $12.5 million in mezzanine financing. Senior funding is provided by Kayne Anderson and mezzanine funding by SteepRock Capital.
The capital was arranged by a commercial real estate capital markets team working on behalf of the project sponsor, Roers Cos.
Both communities are slated for completion in 2027.
Both developments plan to offer resort-style amenities, including pools, clubrooms, pickleball courts and other communal spaces, with high-end interior finishes.
Vintana at Vanderbilt is at 3375 Vanderbilt Beach Road. The Karlyn is at 7576 Immokalee Road. The two sites are within about five miles of each other and separated by North Collier Regional Park.
| Feature | Vintana at Vanderbilt | The Karlyn | Common |
|---|---|---|---|
| Address | 3375 Vanderbilt Beach Road | 7576 Immokalee Road | Naples, Florida |
| Unit count | 150 units | 159 units (55+) | New construction |
| Target market | General multifamily | Active adult (55+) | Residents seeking resort-style living |
| Loan share | Part of a combined $91.4M construction financing | $78.9M senior debt; $12.5M mezzanine debt | |
| Amenities | Pools, clubroom, pickleball courts, high-end finishes | Pools, clubroom, pickleball courts, high-end finishes | Resort-style amenities and community spaces |
| Floorplans | 1–3 bedrooms | 1–3 bedrooms (active adult layouts) | Varied unit sizes |
| Estimated completion | 2027 | ||
| Proximity | Less than 5 miles apart; separated by North Collier Regional Park | Near beaches and retail | |
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