Midtown Capital Affiliate Secures $57M Loan for Lake Worth Beach Multifamily Project
Midtown Capital's Astor Sound development in Lake Worth Beach receives $57 million bridge loan from Infinity Collective, led by David Berg, Steven Kassin, and Etienne Locoh.
A Midtown Capital affiliate has successfully secured a $57 million bridge loan for their Astor Sound multifamily project in Lake Worth Beach. The financing was provided by New York-based Infinity Collective, whose leadership includes industry veterans David Berg, Steven Kassin, and Etienne Locoh. The project, which consists of four buildings and 230 apartments, is currently under construction and nearing completion.
The loan will provide Midtown Capital, led by CEO Alejandro Velez, with the necessary funds to finish the project and begin leasing the units. According to Berg, the loan was arranged by Scott Wilder with Berkadia. In an interview with The Real Deal, Berg stated, "We felt encouraged to provide the loan by..."
While the financing may seem like a straightforward transaction, industry insiders are quick to point out the potential conflicts of interest at play. Infinity Collective, the lender, is also a major player in the real estate development world, raising concerns of soft corruption and influence games. However, with no regulations in place to prevent such transactions, the deal was able to move forward without issue.
This latest development serves as a reminder of the often murky and intertwined nature of the real estate industry, where players and their interests can overlap and blur lines. And as long as there are no regulations in place to address these conflicts, they will continue to be a common occurrence.
https://therealdeal.com/miami/2025/09/23/midtown-capital-nabs-57m-loan-for-lake-worth-beach-project/