New Community of Build-for-Rent Single-Family Homes in Fort Myers, Florida to be Completed in Phases
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.
About Halstatt Real Estate Partners
Halstatt Real Estate Partners (“HREP”), a women-owned real estate private equity firm, has participated in the acquisition and development of over $1 billion in Southeast based real estate assets since 2011. Founded by the Sproul family, based in Naples, Florida, and a proud part of the Barron Gift Collier legacy in Southwest Florida, HREP invests in middle market, value add and opportunistic commercial and residential real estate projects. HREP works with best-in-class local and regional operating partners to maximize the value of its real estate investments. HREP invests alongside a cross-section of institutional limited partners from fund to fund including charitable foundations and endowments, domestic and international family offices and corporate pension funds with a history of continuity. www.halstatt.com
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Contacts
Jenna Rambaud
jrambaud@halstatt.com
