Naples developer secures $234 million loan for luxury condos

Naples/Fort Myers/Charlotte 

One side: Naples developer The Ronto Group and Wheelock Street Capital have taken out a $234 million loan. The financing is for the construction of Rosewood Residences, a 42-unit luxury condominium development on the beach in Naples. It is being built at 1601 Gulf Shore Blvd. N. on the site of the former Naples Mansion House, which Ronto bought in 2021. According to Collier County property records it paid $167.5 million for the site. JLL Capital Markets, which arranged for and announced the construction loan, says the new development is expected to be complete during the third quarter of 2026. When done, it will feature two buildings with three- and four-bedroom units averaging 5,175 square feet. Penthouses will range from 5,170 square feet to 9,601 square feet. Each unit will have floor-to-ceiling windows, gourmet kitchens, luxurious baths, two terraces with outdoor kitchens and private elevators. JLL’s senior managing director Steven Klein, managing director Brian Gaswirth, associate Paul Adams and analyst Shane Ciacci worked with Ronto and Wheelock on the loan.

Photo by Stefania Pifferi