$234M construction financing secured for Rosewood Residences Naples in Florida

MIAMI, August  26, 2024 –  JLL Capital Markets announced today that it has arranged a $234 million construction financing for Rosewood Residences Naples, a 42-unit, ultra-luxury, water-front condominium development situated directly on the beach in Naples, Florida.

JLL represented the borrowers, The Ronto Group and Wheelock Street Capital, to secure the loan from affiliates managed by Apollo.

The property is expected to be completed in the third quarter of 2026 and will showcase two stunning buildings boasting a collection of spacious three- and four-bedroom residences averaging 5,175 square feet, along with lavish penthouses ranging from 5,170 to 9,601 square feet. Each home will offer oversized living areas, floor-to-ceiling windows, gourmet kitchens, luxurious baths, two terraces with outdoor kitchens and private elevators. Residents will indulge in a wealth of indoor and outdoor amenities, including a sun deck with resort-style pool, zero-edge lap pools, multiple spas, game rooms, lounges and gated beach access.

Located at 1601 Gulf Shore Boulevard, Rosewood Residences Naples offers 482 linear feet of pristine beachfront and unparalleled Gulf of Mexico views, with close proximity to Old Naples and all that the area has to offer. Rosewood Residences Naples stands out as the only exclusively residential, ultra-luxury branded condominium on Naples Beach, offering an unparalleled mix of privacy, amenities and features that cater to sophisticated owners.

The JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Steven Klein, Managing Director Brian Gaswirth, Associate Paul Adams and Analyst Shane Ciacci.

“It was a privilege to once again partner with The Ronto Group and Wheelock Street Capital on their second Rosewood Residences project on Florida’s west coast,” said Klein. “They continue to raise the bar with another incredible ultra-luxury beachfront community that will redefine the Naples condo market.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Since 1967, The Ronto Group has been perfecting their skills in real estate development through the creation of residential and commercial projects worldwide. For over thirty years, Ronto has been developing in the Southwest Florida market, creating communities that celebrate the area's irresistible appeal, from Marco Island to Tampa. Ronto and its President and owner Anthony Solomon, have built a solid reputation for imaginative vision, steadfast integrity, and reliable performance.

Headquartered in Naples, Ronto's expertise in condominium and land development has been recognized internationally for communities that are lasting examples of the luxury lifestyle, thoughtful planning, and dedicated craftsmanship. Ronto has also received numerous awards from the Southwest Florida homebuilding industry for superior design and artisanry. The Ronto Group's expertise and attention to detail is evident in each of their projects.

Wheelock Street Capital L.L.C. is a private real estate investment firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul, two veteran real estate private equity investors, each with over 30 years of broad real estate transaction experience across all major asset classes. Wheelock has assembled a premier investment and asset management team and produced an over 10- year track record of demonstrated and consistent outperformance over industry benchmarks. Since inception, Wheelock has raised eight funds, representing over $5 billion in capital commitments and deployed over $11 billion in total value on behalf of well-known institutional investors. This includes a targeted $1.2 billion and $1 billion of capital that the Firm is currently deploying in its opportunistic/value-add vehicle and open- end long-term value vehicle, respectively.

Rosewood Hotels & Resorts manages a global collection of 34 one-of-a-kind luxury hotels, resorts and residences in 21 countries. Each Rosewood property embraces the brand’s A Sense of Place® philosophy to reflect the individual location’s history, culture and sensibilities. The Rosewood collection includes some of the world’s most legendary hotels and resorts, including The Carlyle, A Rosewood Hotel in New York, Rosewood Mansion on Turtle Creek in Dallas and Hôtel de Crillon, A Rosewood Hotel in Paris, as well as new classics such as Rosewood Hong Kong and Rosewood São Paulo. For those who wish to stay a little longer, Rosewood Residences offer a distinct opportunity for the ownership or rental of properties co-located with a Rosewood hotel or resort and of standalone for-sale residences. Rosewood Residences are defined by the brand’s commitment to Enriched Living through thoughtful details and experiences that enhance the quality of life while evoking a sense of discovery and inspiration. 

For more information on Rosewood Hotels & Resorts, please visit rosewoodhotels.com

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