Naples developers secure $114M loan for luxury residential project

With financing in place, construction can begin on the 15-story building not far from famed 5th Avenue district.

  • By Louis Llovio
  • | 12:20 p.m. November 18, 2024
  • | 0 Free Articles Remaining!
  • Charlotte–Lee–Collier
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Fred Pezeshkan and Jerry Starkey, developers behind a 15-story tower coming to downtown Naples, have obtained $113.6 million in financing and will begin construction immediately.

The developers are building the 56-unit building near the city’s upscale 5th Avenue shopping district. The building is part of Metropolitan Naples, which is being built on a 5.3-acre parcel at the intersection of Fifth Avenue South and Davis Boulevard.

Construction on the Aura at Metropolitan tower in Naples can begin after $114 million in financing secured.
Courtesy image

 

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