News release

Financing secured for Naples luxury condo developments

JLL Capital Markets arranged the construction loans for Quattro at Naples Square and 1111 Central Phase II

June 17, 2021

MIAMI, June 17, 2021 – JLL Capital Markets announced today it arranged construction loans for Quattro at Naples Square and 1111 Central Phase II, two luxury condominium developments located in Naples, Florida.

JLL worked on behalf of the borrower, a partnership between Wheelock Street Capital and The Ronto Group, to secure both loans through MSD Partners L.P.

Quattro at Naples Square represents the fourth and final phase following the successful sell out of the previous phases of the Naples Square development. The project will consist of 64 units averaging just under 2,900 square feet. 1111 Central Phase II will consist of 72 units with an average size of just under 2,000 square feet. This project is the second of three total phases.

Both properties are located just steps away from downtown Naples which offers residents premier shopping, dining and entertainment amenities along the famed 5th Avenue.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Steve Klein, Managing Director Brian Gaswirth and Associate Reid Carleton.

“The strong lender response resulted from the extremely successful historical partnership between Wheelock Street Capital and The Ronto Group and their unique ability to acquire, design and execute premier residential developments,” Klein said.

“Competition among debt capital providers for condominium construction financing opportunities, particularly in Florida, has accelerated over the past 12 months, and the execution on these deals illustrates how superior sponsorship with strong operational expertise can further drive the competitive process,” Gaswirth added.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge deliver best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement, or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Wheelock Street Capital

Wheelock Street Capital was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran real estate private equity investors, each with 30 years of broad real estate transaction experience across all major asset classes. Wheelock has raised over $4 billion in capital commitments from well-known institutional investors and focuses on real estate investment opportunities throughout the United States, in both public and private markets. Wheelock is currently deploying its sixth fund in its value-added series, Wheelock Street Real Estate Fund VI and its first perpetual life fund, Wheelock Street Long Term Value Fund. The Long-Term Value Fund targets high-quality, cash-flowing assets with stable, yet attractive risk-adjusted returns over a 5-15-year investment horizon. The firm may invest directly or with high quality joint venture partners through a variety of capital structures and transaction types, including acquisitions, restructurings, and recapitalizations. Wheelock’s investment team benefits from extensive experience from top-tier institutional investment firms and highly regarded real estate operating companies and has produced a 10-year track record of demonstrated and consistent outperformance over industry benchmarks. For further information, visit

About Ronto Group

Founded in 1967 by A. Jack Solomon, the Ronto Group is a family company now managed his son Anthony. Many Ronto employees have been with the firm for years, a testament to the quality of the personal relationships that are so highly prized by the Solomon family. Those relationships extend beyond the company, to include suppliers, contractors, landowners, investors and customers. Maintaining their reputation for integrity and performance is the first priority of the entire Ronto organization. For further information, visit

About MSD Partners, L.P.

MSD Partners, L.P. is an SEC-registered investment adviser that utilizes a multi-disciplinary strategy focused on maximizing long-term capital appreciation by making investments across the globe in the debt and equity of public and private companies, real estate and other asset classes.  MSD Partners was formed in 2009 by the partners of MSD Capital, L.P., which is the family investment office for Michael Dell, the Founder & CEO of Dell Technologies.  MSD Capital was originally established in 1998.  Michael Dell and his family are substantial clients of MSD Partners.  MSD Partners operates from offices in New York, Santa Monica and West Palm Beach.