Affinius Capital Provides $204M Refi for Luxury Sarasota Multi Complex

National investment firm Belpointe has secured $204 million to refinance Aster & Links, a 424-unit Class A multifamily complex that opened last year in Sarasota, Fla. 

Affinius Capital provided the loan, which was made to Belpointe OZ, a publicly traded qualified Opportunity Zone fund within Belpointe. 

Lantern Real Estate Advisors + Partners’ Tal Bar-or arranged the financing. 

The initial proceeds are expected to refinance existing debt, with the leftover capital supporting the continued lease-up and stabilization, saving Belpointe millions of dollars in the coming years, according to a release from the firm. 

Eric Cohen, managing director and head of debt origination at Affinius Capital, said in a statement that the loan begins his firm’s first investment into the Sarasota market, which has been driven by strong multifamily demand from “affluent renters” seeking to live in high-end projects.   

“Belpointe OZ delivered a thoughtfully designed, highly amenitized project,” Cohen said. “This transaction underscores our commitment to financing premium multifamily assets in growth markets.” 

Located at 1991 Main Street in Downtown Sarasota, Aster & Links opened in 2024 and features a pair of 10-story residential towers. The Aster building holds 243 units, while the Links building holds 181 units. Amenities in each building include rooftop lounges, multiple resort-style pools, several coworking spaces, courtyards, fitness centers, and 24-hour concierge services. 

More than 50,000 square feet of ground-floor retail is anchored by Sprouts Farmers Market, as well as other retail, spa and restaurant tenants, according to Affinius Capital. 

The building is more than 50 percent leased, according to Belpointe. 

Brian Pascus can be reached at bpascus@commercialobserver.com