Love Funding Secures $40.6 Million Loan for Construction of Upscale Apartment Community in Fort Myers, Florida
Love Funding closed a $40.6 million loan to the developer, Tampa-based Aileron Investment Management, for the construction and permanent financing of Grand Central Apartments, an upscale market-rate multifamily community in Fort Myers, Florida.
Grand Central Apartments will consist of two four-story elevator buildings and two three-story walk-up buildings, comprised of 280 one- and two-bedroom luxury-appointed units and high-end community amenities. The property is located within the Cleveland Avenue Redevelopment Area, which the city has targeted for commercial and mixed-use development. (more…)