Back First of its Kind Build-for-Rent Single-Family Community in Fort Myers, Fla. with 129 Units
Naples, Fla. – July 20, 2021 – Halstatt Real Estate Partners, a real estate private equity firm, today announced a capital commitment to develop a build-for-rent single-family home community in Fort Myers, Fla. Soltura at The Forum will feature 129 units supported by a clubhouse, community social and fitness rooms, a pool, firepit, and dog park. The property is situated in an established master-planned community, The Forum, complete with restaurants, retail, educational and medical facilities, assisted living, residential communities, and public parks.
“Soltura at The Forum provides this submarket with an exciting new offering of build-for-rent single-family units. We are attracted to this emerging asset class given the changing living preferences of renters that have been accelerated by COVID,” said Katie Sproul, chief executive officer, Halstatt. “This is one of the first build-for-rent communities being developed in Southwest Florida, and we are pleased to introduce this rental alternative to the market.”
Halstatt Real Estate Partners is providing capital to fund the project in partnership with a Southwest Florida developer, Soltura Development Group. Each of the 129 single-family rental homes will be complete with a private yard and supported by a robust community amenity package. The units are a mix of one-, two-, and three-bedroom residences offered in a clustered, horizontal cottage format. This differentiated offering provides residents with the affordability and convenience of apartment living with all the advantages of a single-family home lifestyle.
“We continue to follow significant demographic trends and are constantly looking for opportunities that are at the forefront of evolving consumer needs. Older millennials are forming households and moving to the suburbs in search of more space and an affordable living solution,” said Steve Iannaccone, principal, Halstatt Real Estate Partners. “We are excited to partner with Soltura Development Group to deliver this much needed rental alternative and are confident we will continue to see demand for this growing product segment.”
Halstatt Real Estate Partners identifies value add and opportunistic real estate projects throughout Florida, the Southeast, and Texas. The company partners with project sponsors to develop and implement a strategic business and capital improvement plan to maximize demand driven development and investment opportunities.