Back Naples, Florida. – November 16, 2021 – Halstatt Real Estate Partners, a real estate private equity firm, today hosted the groundbreaking of its latest development, Odyssey by Soltura. Halstatt Real Estate Partners is developing this build-for-rent single-family home community, in partnership with Soltura Development Group.
“Historically low interest rates and an undersupply of available single-family homes have created a hyper-competitive for-sale environment and fueled robust home price appreciation. We are seeing an influx of would-be home buyers opt for differentiated rental housing. Halstatt Real Estate Partners is very focused on the build-for-rent sector which we believe provides an elegant solution to this housing affordability crisis,” said Steve Iannaccone, partner, Halstatt Real Estate Partners. “We are very excited to have started construction on the first cottage style apartment community in Southwest Florida. We have an incredible development partner and construction team, and I look forward to seeing this project come to life.”
This build-for-rent single-family home community is being built near the intersection of Warrior Way and Forum Boulevard in Fort Myers, Florida. Each of the 129 single-family rental units will be complete with a private yard and supported by a robust community amenity package. Amenities include a clubhouse, community social and fitness rooms, a pool, firepit and dog park. The units are a mix of one-, two- and three-bedroom residences offered in a clustered, horizontal cottage format.
“We are excited to bring the first cottage style apartments to Southwest Florida. Our first development of 129 apartment residences is called Odyssey by Soltura and will be located within the Forum in Fort Myers. Each apartment home is a separate free-standing building with both front and back patios and a small private backyard, allowing each renter the space and opportunity for their own single-family home experience within an apartment setting,” said Danville Leadbetter, cofounder of Soltura Development Group. “With the ever-increasing housing needs of our community, we feel that this is a great time to be delivering this new alternative to market and we are proud to begin our journey here in Southwest Florida with such great partners.”
The property is situated within an established master-planned community, The Forum, complete with restaurants, retail, educational and medical facilities, assisted living, residential communities and public parks. This differentiated product type provides residents with the affordability and convenience of apartment living with all the advantages of a single-family home lifestyle. This is the first single-family rental project that Halstatt is developing and the firm is getting ready to break ground on four additional build-for-rent projects in Austin, Texas; Orlando, Florida; North Port, Florida; and Columbus, Ohio.
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.