Mast Capital secures $65 million construction loan for Fort Myers multifamily development

0
595

Florida Construction News staff writer

Mast Capital, in collaboration with BLG Capital Advisors, has broken ground at Hancock Bridge Square, a residential rental community. With construction started, the development will add 320 new residences to the Fort Myers area.

Mast Capital announced that the $65 million construction financing was secured through lender Centerbridge Partners, acting as agent for MassMutual Life Insurance Company.Located on a 14.5-acre site at 13370 North Cleveland Ave., Hancock Bridge Square is being built by general contractor Kaufman Lynn Construction.

“Amidst the region’s burgeoning population and robust demand for rental accommodations, Mast Capital saw a unique opportunity to enrich the Fort Myers market with a novel, amenity-rich residential offering,” said Camilo Miguel, Jr., CEO and founder at Mast Capital.

Designed by Humphrey’s & Partners Architects, the development will showcase a diverse array of modern apartments alongside a fitness center, communal lounge with an entertainment kitchen, and designated workspace areas for remote work arrangements. Outdoor leisure will be elevated with a resort-style swimming pool and expansive sun deck, complete with comfortable seating and shaded lounge cabanas.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.