Backstreets Capital secures construction financing from ServisFirst Bank for The Cade luxury condominium project in St. Petersburg.
Round Type
Venture
Saint PetersburgReal EstateInvestors
Description
Backstreets Capital, a St. Petersburg-based real estate developer, secured conventional construction financing from Alabama-based ServisFirst Bank for The Cade Residences, a 15-unit luxury condominium project. The project also received capital from a small group of friends-and-family investors to supplement the bank loan. Construction began in April and is expected to top out in the coming weeks, with residences ready for occupancy in early 2028
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