Berkadia Secures $65M Bridge Loan for New Fort Myers Apartment Complex

A $65 million bridge loan will refinance The Orchard at Portofino Vineyards, a new apartment complex in Fort Myers. The funding replaces the original $49.5 million construction loan for Prime Group.

MF1 Capital provided the financing, which Managing Director Brad Williamson and Vice President Kyle Ryan arranged. The tight housing market attracted significant lender interest, leading to a two-year floating-rate deal.

Fort Myers tops the list for growth forecasts, with U.S. News & World Report expecting a 10% population increase over the next five years. The complex is located just minutes from Florida Gulf Coast University and the Hertz Global offices and enjoys a strategic location in this expanding market.

"We're thrilled with the successful completion of the second phase of our multifamily development project in Fort Myers,” said Larry Abbo, CEO of Prime Group, to Yield Pro. “As the city continues to grow and attract a vibrant mix of young professionals and top talent, we're committed to supporting this evolution."

The development features 12 three-story buildings. Apartments range from 821 to 1,398 square feet. Since receiving its temporary certificate in January 2025, the complex has leased over a quarter of its units.

Residents enjoy access to a lakefront clubhouse and fitness center. The property includes a barbecue area, a dog park, and electric vehicle charging stations. An on-site maintenance team handles daily operations.

This project represents the second phase of a larger three-phase development spanning 70 acres. With the first phase completed in 2020, developers plan to finish the final phase by mid-2025.