Kolter Urban and BH Group Land $197M Construction Loan for Naples Luxury Condos

Developers Kolter Urban and BH Group have obtained $197 million in construction financing to fund the development of Olana Naples Residences, an ultra-luxury condominium project located in Naples, Florida. The construction debt package was jointly provided by Apollo Global Management alongside BDT & MSD Partners, with no broker recorded for the deal.

Situated at 1121 Gulf Shore Boulevard North, the planned project will feature 12 estate-style residential condominium units. Each home is slated to average approximately 10,000 square feet, with pricing starting at $32 million for the entry-tier units.

The development team intends to break ground on the oceanfront site before the end of 2026, targeting full construction completion sometime in 2028.

For residential developers and construction lenders, this sizable loan demonstrates ongoing institutional capital availability for boutique, top-tier luxury residential product targeting high-net-worth buyers in prime coastal submarkets.