PALMETTO, FLA. — Berkadia has arranged a $97 million construction loan to finance the development of The Carlton at Robinson Gateway, a 610-unit multifamily project in Palmetto. The borrower, The Mahaffey Apartment Co., plans to break ground this summer alongside newly contracted general contractor Esterline Construction.
Mitch Sinberg, Bryan Brown, Matt Robbins, Scott Wadler and Brad Williamson of Berkadia arranged the financing through Goldman Sachs Private Bank, a division within its Wealth Management platform.
Situated in the Sarasota-Bradenton MSA near I-75, The Carlton at Robinson Gateway will comprise one-, two- and three-bedroom apartments ranging in size from 625 to 1,587 square feet. Amenities will include a clubhouse, business center, onsite storage units, community dog park and a resort-style swimming pool.