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Mast Secures $65M for Ft. Myers Rental Community – Connect CRE

by | Mar 28, 2024 | 0 comments

Mast Capital, in partnership with private equity group BLG Capital Advisors, has secured financing and broken ground on an upscale residential rental community in Fort Myers. The firm, which acquired the site totaling 14.5 acres of land in 2022, has secured $65 million in construction financing from lender Centerbridge Partners, which served as agent for MassMutual Life Insurance Company. JLL Capital Markets represented the joint venture in securing the loan.

Construction will be led by general contractor Kaufman Lynn with design work by Humphrey’s & Partners Architects. Hancock Bridge Square will feature a garden-style residential community rising just a few minutes from Downtown Fort Myers. Situated at 13370 North Cleveland Ave., the 320-unit multifamily project will feature three- and four-story apartment buildings. 

Hancock Bridge Square will offer a fitness center, a lounge and entertainment kitchen, and a workspace area for residents working from home. Outdoor amenities will include a swimming pool and large sun deck with outdoor seating and covered lounge cabanas. 

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