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PTM Lands $125M Financing for St. Pete Multifamily Community
PTM Partners closed on a $125 million construction loan from GID to finance EDGE Collective II, a 330-unit Class AA multifamily high-rise including 19,000 square feet of retail space in downtown St. Petersburg’s EDGE District.
Berkadia arranged the three-year, floating-rate construction loan on behalf of PTM Partners. The financing was arranged by Scott Wadler and Alec Fox of Berkadia Miami, together with Mitch Sinberg and Matt Robbins and Brad Williamson. Berkadia previously advised PTM Partners on the debt and equity capitalization of EDGE Collective’s first phase, including $42 million in construction financing for the Moxy St. Petersburg Downtown and the adaptive reuse components of the mixed-use development.
The Moxy St. Petersburg Downtown opened in 2024, along with restaurant and retail offerings, creative office space and shared outdoor areas. Phase II will build upon that foundation with 330 residential units and additional retail space.
- ◦Financing
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