Halstatt Real Estate Partners Breaks Ground on Stillwell at Wellen Park

New Community of Build-for-Rent Cottages in North Point, Florida Will Be Completed in Late 2023

Halstatt Real Estate Partners, a real estate private equity firm, today announced the groundbreaking of its latest development, Stillwell at Wellen Park. Halstatt Real Estate Partners is investing in this build-for-rent community developed by Coastal Ridge Real Estate.

“Our build-for-rent strategy centers on creating a differentiated rental product that addresses the current housing affordability crisis and serves the changing demographic landscape of the country. Build-for-rent housing is a multifamily product innovation that has emerged as a housing alternative for many would-be home buyers who are facing a lack of affordable options within the residential for-sale market,” said Steve Iannaccone, partner, Halstatt Real Estate Partners. “Halstatt's partnership with Coastal Ridge to develop Stillwell at Wellen Park is another exciting step towards executing on our build-for-rent strategy, and we are thrilled to break ground on a project that provides an exciting new rental offering in a beautifully planned community.”

Located in North Point, Florida, this build-for-rent community will have over 274 homes, each complete with a private outdoor yard and patio, supported by an ample community amenity package. Amenities include a clubhouse, fitness center, business center, club lounge, kitchen, game room, coffee bar, resort style zero-entry pool, fire pits, dog park, bocce court, walking track, and more. The development includes an array of one-, two-, and three-bedroom residences offered in a clustered, horizontal cottage format.

“Coastal Ridge is excited to break ground on Stillwell at Wellen Park,” said Andy Lallathin, managing partner, Coastal Ridge Real Estate. “We’ve long seen development as the final spoke in our organization’s wheel, rounding out our institutional investment and best-in-class operations platforms, and we’re thrilled to be partnering with Halstatt to bring this innovative new product type to life within the Wellen Park Community.”

Each residence is a separated free-standing building with modern amenities inside, and outside features including a private yard with patio. The generously appointed interior includes 10 ft. ceilings, gorgeous kitchen islands and countertops, stainless steel Energy Star appliances, a smart home technology package, valet trash, and wide plank LVT flooring throughout.

The property will be located within Wellen Park, one of the top-selling master-planned communities nationwide, and in close proximity to the Atlanta Braves spring training facility, a Publix-anchored retail center, and Downtown Wellen, a vibrant mixed-use hub currently under construction. This differentiated product type provides residents with the affordability and convenience of apartment living with all the advantages of a single-family home lifestyle.

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.halstattrealestate.com.

About Coastal Ridge Real Estate

Headquartered in Columbus, OH with an additional office in California, Florida, and Tennessee, Coastal Ridge Real Estate is a full-service real estate investment and property management firm executing on core, core plus, value add, and ground-up development investment strategies in the multifamily real estate asset class. The firm’s vertically integrated platform includes divisions to oversee investment management, property management, and development. Coastal Ridge’s current portfolio is comprised of 30,000+ conventional apartment units and student housing beds spanning 43 distinct markets, with assets under management totaling over $3.5. billion. Coastal Ridge has been recognized as an Inc. 5000 Fastest-Growing Private Companies in America five times. For more information visit www.coastalridge.com.

About Stillwell

Created by Coastal Ridge, Stillwell is an innovative multifamily housing concept within the build-for-rent sector. This innovative product known as a Horizontal Apartment or Cottage Community consists of free-standing one- and two-story single family residential units with private yards, utilizing shared parking similar to a typical garden apartment layout, and featuring programmed amenities. This product offers a new option for residential living, providing the privacy of a single-family home, and the amenities, professional management, and ease of living of a traditional apartment community. For more information visit www.livestillwell.com.

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