ST. PETERSBURG, FL - PTM Partners, a real estate investment and development firm specializing in community-focused development, has closed on a $125 million construction loan from an affiliate of 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.
The closing marks a significant milestone for EDGE Collective and reflects continued confidence in downtown St. Petersburg’s residential market. Located within an Opportunity Zone, EDGE Collective aligns with PTM Partners’ broader strategy of investing in high-growth communities. As demand for housing and walkable, mixed-use environments continue to shape development across the region, Phase II will introduce new residences and street-level activity within one of the city’s most dynamic neighborhoods.
“Securing this financing is an important step forward for EDGE Collective II and a strong endorsement of our vision for the broader development,” said Michael Tillman, CEO and Co-Founder, PTM Partners. “St. Petersburg is undergoing a remarkable revitalization and rapidly emerging as one of Florida’s fastest-growing destinations for residents, businesses and investment.”
“We’re grateful to GID and Berkadia for their partnership and shared confidence in the project,” said Nicholas Pantuliano, Chief Development Officer and Chief Operating Officer, PTM Partners. “That growth is driving demand for mixed-use communities like EDGE Collective, and we look forward to building on the project’s success of Phase I with a new mixed-use residential offering uniquely designed for the St. Pete community.”
Berkadia arranged the three-year, floating-rate construction loan on behalf of PTM Partners. The financing was arranged by Managing Director Scott Wadler and Director Alec Fox of Berkadia Miami, together with Senior Managing Director Mitch Sinberg and Managing Directors 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.
"We've had the opportunity to work alongside PTM Partners since the capitalization of Edge Collective's first phase, so we've seen firsthand the thoughtful, long-term approach they've taken to creating a true mixed-use destination in the EDGE District," said Scott Wadler, Managing Director at Berkadia. "Institutional lenders continue to be highly selective in today's construction lending environment, but projects that combine an experienced sponsor, meaningful equity, exceptional urban locations and a proven placemaking strategy continue to attract capital. Edge Collective is a great example of that, building on the momentum established by Phase I while further strengthening one of Florida's most dynamic downtown neighborhoods."
EDGE Collective is a mixed-use master development designed to create a walkable neighborhood combining housing, office space, retail, hospitality and communal spaces. Its first phase includes the Moxy St. Petersburg Downtown, which 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.
About PTM Partners: PTM Partners (PTM) is a real estate investment and development firm that seeks community-oriented development opportunities that create substantial value for its residents, partners, and investors. Focused on designing and developing housing that improves the way its residents live, work and interact, PTM has become one of the premier real estate development firms in Florida, as well as one of the largest Opportunity Zone fund managers in the country. Led by Nicholas Pantuliano and Michael Tillman, both former senior executives of the Lefrak Organization, PTM prioritizes making investment decisions that balance reputation and long-term profitability over short-term revenue maximization. This has led to the successful delivery of large-scale residential and mixed-use projects, such as the Edge Collective in St. Petersburg, Florida, Arte Grande Central and 2000 Biscayne in Miami, Viridium in Northern Virginia, among many others. Focused on sustainable development for the masses that is not only financially profitable but improves the livelihood of its residents and the communities within which they reside, PTM has raised and invested more than $400 million in Qualified Opportunity Zone equity for investment in accessible multifamily and mixed-use developments with over $3.0 billion in active developments and investments and has also rolled out a vertically integrated workforce housing platform to meet its economic and social mandate. The PTM team has collectively invested, developed, constructed, and managed more than $20 billion in real estate covering a broad range of mixed-use development projects in Florida, New York, New Jersey, and Washington, D.C.
About Berkadia®: Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.