Back Halstatt Real Estate Partners Adds 300 Additional Build-for-Rent Units to Fort Myers Market
Naples, Fla. – March 13, 2024 – Halstatt Real Estate Partners, a real estate private equity firm, today announced the opening of two of its latest build-for-rent developments. These Fort Myers based properties, Altair and Argos, are the result of joint ventures with Southwest Florida-based developer Soltura Development Group. Located within five miles of each other, these developments add 300 high demand build-for-rent units to the area.
“The cost of homeownership remains elevated, making it less feasible for many individuals and families to purchase a home. This dynamic is driving more people to choose renting as a more affordable and flexible option for achieving the single-family home lifestyle,” says Steve Iannaccone, principal, Halstatt Real Estate Partners. “Build-for-rent properties are particularly attractive in this environment, offering a compelling alternative to traditional homeownership while providing many single-family characteristics, such as a private entrance and fenced backyard. Our developments provide residents with the space, amenities, and sense of community they desire, without the long-term commitment and financial burden of buying a home.”
Altair and Argos feature 160 units and 140 units, respectively, and comprise of a mix of one-, two-, and three-bedroom units offered in a clustered, two-story cottage format. All residences will have private first floor entryways and private fenced, landscaped backyards with patios, which provides, on average, 550 sq. ft. of additional living space per unit. Consistent across Halstatt Real Estate Partners’ portfolio of build-for-rent developments, these communities are equipped with state-of-the-art amenities, including a luxury clubhouse that will support a leasing center, fitness center, loungeroom/work area, and mailroom as well as a resort-style pool with cabanas.
To date, Halstatt has committed to seven build-for-rent development projects, equating to over 1,150 units. Of those, five are now open for operations and two remain under development. Halstatt Real Estate Partners has three projects in Fort Myers, Fla, and singular projects in Bonita Springs, Fla., North Port, Fla., Austin, Texas, and Columbus, Ohio. To view our BFR projects, visit the portfolio page of our website.