PTM Partners Secured $125 Million St. Petersburg Loan
The firm obtained financing to begin the second phase of its Edge Collective high-rise development project.
Updated on Sept. 28, 2026 in Construction
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PTM Partners has secured a $125 million construction loan from GID for the Edge Collective II project in St. Petersburg. The new high-rise will be situated at the intersection of 11th Street South and 1st Avenue South.
Why it matters
The project serves as the second phase of a larger development strategy intended to bolster walkability and accommodate a growing population of professionals moving to the region. It is situated within an Opportunity Zone to incentivize urban growth.
The development will feature 330 residential units and 19,000 square feet of retail space. This financing follows the completion of phase one in 2024 and represents a significant scaling of the original development footprint.
The players
PTM Partners
A real estate investment and development firm based in Fort Lauderdale that manages a portfolio of projects.
GID
An institutional real estate investor and operator that provided the construction financing for this project.
Berkadia
A commercial real estate firm that acted as the intermediary to arrange the financing for the developers.
The details
Arranged by Berkadia, the three-year floating-rate loan will fund the construction of the second phase. Demolition at the site is currently underway to prepare the foundation for the upcoming vertical build.
Timeline
Phase one of the Edge Collective was completed in 2024.
PTM Partners secured the $125 million loan in September 2026.
Vertical construction is expected to commence in late 2026.
The project is slated for completion in 2029.
Market Landscape
The project follows the pattern set by the Opportunity Zone program by utilizing tax-advantaged equity to spur high-density residential construction in designated zones. This investment reflects a broader industry trend of scaling urban developments to capture demand from migrating professionals.
The addition of 330 residential units and new retail space will increase housing inventory and local services in the Edge District. Residents can expect ongoing construction activity at the 11th Street South and 1st Avenue South intersection until the 2029 completion.
The takeaway
Large-scale urban infill projects like Edge Collective II highlight the continued demand for high-density housing in Florida's growing cities. Local stakeholders should prepare for a multi-year construction window as the project progresses toward its 2029 target date.
Further reading
For more information on the regional building boom, read our latest Construction reports.
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Do you believe new large-scale apartment buildings improve the walkability and character of your community?
