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Developers pay $102 million for Naples waterfront condo community

The South Florida developers plan to build 45 units less than a mile from where the Naples Beach Club is undergoing a major redevelopment.

By Louis Llovio
| 4:00 p.m. April 16, 2024
| 0 Free Articles Remaining!

Developers have bought the 36-unit Bahama Club and will build a luxury condo tower.

Charlotte–Lee–Collier

A pair of Florida developers have bought a 2.5-acre beachfront property near the Naples Beach Club and plan to build a luxury condominium tower on the site.

BH Group and the Kolter Group, both from South Florida, paid $102.6 million for the property — which has 200 feet of beach frontage — at 1121 Gulf Shore Blvd. N.

The purchase was made with the help of a $56.4 million loan through Centennial Bank, according to a statement.

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Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.