Ritz-Carlton Residences, Estero Bay: $198.6M construction financing secured from Bank OZK for luxury waterfront tower in Southwest Florida

MIAMI, Oct. 8, 2025 – JLL Capital Markets announced today that it has arranged $198.6 million in construction financing from Bank OZK for The Ritz-Carlton Residences, Estero Bay (North Tower), a 112-unit luxury condominium development in Bonita Springs, Florida.

JLL represented the borrower, London Bay Development Group, in securing the loan through Bank OZK.

The Ritz-Carlton Residences, Estero Bay North Tower, located at 5200 Seagrass Blvd. in Bonita Springs, represents the second residential phase of Saltleaf on Estero Bay, a master-planned luxury residential and golf community. The 22-story tower offers stunning views of Estero Bay and the Gulf while providing direct waterfront access to Florida's first aquatic preserve.

Southwest Florida continues to experience robust residential market growth, with significant population increases and strong demand from ultra-high net worth buyers seeking luxury waterfront properties. The region has attracted buyers competing with traditional luxury markets like Palm Beach and Naples, driven by its exceptional quality of life and prime coastal location.

The Ritz-Carlton Residences, Estero Bay features two-, three- and four-bedroom residences with dens, averaging 3,430 square feet of interior space. The luxury tower offers over 36,000 square feet of indoor amenities and five acres of outdoor gardens and amenities including three pools, a man-made lagoon with over-water pavilions and extensive Ritz-Carlton branded services. Residents will also benefit from the surrounding Saltleaf community amenities including an adjacent marina, upscale restaurant by Michael Mina Group and the new Saltleaf Golf Preserve designed by Raymond Floyd.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Brian Gaswirth and Directors Paul Adams and Jimmy Calvo.

"The successful arrangement of construction financing for The Ritz-Carlton Residences underscores the continued strength of the Southwest Florida luxury residential market," said Gaswirth. "This project's exceptional waterfront location, prestigious Ritz-Carlton branding and London Bay's proven development track record make it a compelling investment opportunity."

“Having already provided the construction financing for the South Tower of the Ritz-Carlton Residences, Bank OZK is excited to continue our support of London Bay and the North Tower,” said Greg Newman, Senior Managing Director of Originations. “This financing underscores our confidence in both the sponsor’s execution of this impressive project and the strength of the Southwest Florida market.”

For more than 30 years, London Bay has redefined inspired living in Southwest Florida. Recognized as America’s Best Builder by Builder magazine, the company has earned more than 500 prestigious industry awards for its excellence in design, craftsmanship, and innovation. Landmark projects include Moorings Park Grande Lake, Grandview at Bay Beach, and the award-winning community of Mediterra. Construction of the North Tower commenced earlier this year, and completion is expected in second quarter of 2027.

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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London Bay Development Group specializes in the development of luxury residential and senior living communities, known for bold design, quality construction and a client-first approach. With a track record of delivering thoughtfully planned, high-end communities across Southwest Florida, the firm is redefining the region’s standard for luxury living. Visit www.LondonBay.com for more information.

Bank OZK (Nasdaq: OZK), through its Real Estate Specialties Group (RESG), provides financing on commercial real estate projects throughout the nation. RESG is considered a preeminent, market-leading construction lender focused on senior secured financing for a variety of property types including mixed use, multifamily housing, condominiums, office, hospitality, life sciences, industrial and retail. For the five years ended June 30, 2025, RESG originated approximately $40.27 billion in new loans. For more information, visit ozk.com.