{"id":413972,"date":"2026-09-29T18:56:07","date_gmt":"2026-09-29T18:56:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/413972\/"},"modified":"2026-09-29T18:56:07","modified_gmt":"2026-09-29T18:56:07","slug":"gid-provides-125m-construction-loan-for-st-petersburg-multifamily-tower-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/413972\/","title":{"rendered":"GID Provides $125M Construction Loan for St. Petersburg Multifamily Tower \u2013 Commercial Observer"},"content":{"rendered":"

PTM Partners<\/a> has secured $125 million of construction financing to build Edge Collective II, a 330-unit multifamily tower that represents the second phase of a broader mixed-use development in Downtown St. Petersburg, Fla., according to a release.\u00a0<\/p>\n

An affiliate of General Investment and Development (GID<\/a>) provided the debt, structured as a three-year, floating-rate loan, while Berkadia<\/a>\u2019s Scott Wadler, Alec Fox, Mitch Sinberg, Matt Robbins and Brad Williamson arranged the transaction.\u00a0<\/p>\n

SEE ALSO: Dina Levy Has a Very Bold Mandate for Affordable Housing in New York City<\/a><\/p>\n

The group had previously arranged the $42 million construction loan that financed the first phase of Edge Collective, Moxy St. Petersburg, a 163-key Marriott hotel that opened in 2024.\u00a0<\/p>\n

The Real Deal first reported<\/a> the financing.\u00a0<\/p>\n

Berkadia\u2019s Williamson noted in a statement that an institutional lender like GID was attracted to working with an experienced sponsor like PTM Partners. Projects with \u201cmeaningful equity, exceptional urban locations and a proven placemaking strategy continue to attract capital,\u201d he said.<\/p>\n

\u201cEdge Collective is a great example of that, building on the momentum established by Phase I while further strengthening one of Florida\u2019s most dynamic downtown neighborhoods,\u201d Williamson added.\u00a0<\/p>\n

Edge Collective II is located at the 1100 block of Central Avenue in St. Petersburg\u2019s EDGE District, a walkable live-work-play neighborhood that promotes entertainment, dining, galleries, et cetera \u2014 hence the EDGE acronym. Edge Collective II will rise 20 stories and include 19,000 square feet of ground-floor retail space. Construction is expected to finish in 2028.\u00a0<\/p>\n

Michael Tillman, CEO and co-founder of PTM Partners, said in a statement that St. Petersburg has emerged as one of the fast-growing population centers in Florida and is now a leading market for housing development and business investment.\u00a0<\/p>\n

\u201cSecuring this financing is an important step forward for Edge Collective II and a strong endorsement of our vision for the broader development,\u201d said Tillman.\u00a0<\/p>\n

Brian Pascus can be reached at bpascus@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"PTM Partners has secured $125 million of construction financing to build Edge Collective II, a 330-unit multifamily tower…\n","protected":false},"author":2,"featured_media":413973,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[164011,202,204,203,199,201,200],"class_list":["post-413972","post","type-post","status-publish","format-standard","has-post-thumbnail","category-st-petersburg","tag-michael-tillman","tag-st-pete","tag-st-pete-headlines","tag-st-pete-news","tag-st-petersburg","tag-st-petersburg-headlines","tag-st-petersburg-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/413972","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=413972"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/413972\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/413973"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=413972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=413972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=413972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}