PTM Partners secures $125 million construction loan from GID for phase II of EDGE Collective

St. Petersburg, FL PTM Partners 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 s/f of retail space in the EDGE District.

The closing marks a significant milestone for EDGE Collective and reflects continued confidence in downtown’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 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.