PTM Partners Secures Loan for St. Petersburg Project
The firm finalized a $125 million construction loan for the next phase of the EDGE Collective development.
Updated on Oct. 20, 2026 in Construction
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PTM Partners has secured a $125 million construction loan to develop the second phase of the EDGE Collective in downtown St. Petersburg. The project will bring 330 new residential units and 19,000 square feet of retail space to the city's EDGE District.
Why it matters
This development aims to meet the increasing demand for high-density housing and mixed-use environments in St. Petersburg. It builds on the growth of the neighborhood following the successful 2024 opening of the Moxy St. Petersburg Downtown.
The project represents a significant expansion for the firm, which has raised more than $400 million in Qualified Opportunity Zone equity to date. This three-year floating-rate loan was arranged by Berkadia.
The players
PTM Partners
This real estate investment firm focuses on developing mixed-use properties within designated Opportunity Zones across the country.
Berkadia
This commercial real estate company provides comprehensive capital solutions, including investment sales, mortgage banking, and loan servicing.
GID
This diversified real estate investment and management company maintains a portfolio of properties across major U.S. markets.
The details
Located within an Opportunity Zone, the EDGE Collective II project is designed to integrate new residences with active street-level commerce. Berkadia successfully arranged the financing for PTM Partners to support the continued expansion of the mixed-use site.
Timeline
The Moxy St. Petersburg Downtown opened in 2024.
PTM Partners closed on the construction loan on October 20, 2026.
Market Landscape
This investment highlights the ongoing institutional interest in Opportunity Zone development, which remains a key driver for mixed-use revitalization in urban hubs. It positions the developer to maintain a competitive footprint in downtown St. Petersburg against other regional projects.
The addition of 330 residential units is intended to increase housing supply in the downtown area for local renters. Residents can expect to see increased street-level activity and new retail amenities upon completion of the second phase.
The takeaway
This project reflects a broader trend of utilizing federal tax incentives to accelerate urban development in high-demand Florida markets. Local stakeholders should monitor the progress of the EDGE District as these new residential units and retail spaces enter the supply pipeline.
Further reading
Learn more about the latest building trends in the St. Petersburg Construction section.
Source note: This article includes information reported by MultifamilyBiz.
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