Shoreham Capital, in partnership with Bridge Investment Group and Wynkoop Financial, has broken ground on Siesta Lakes, a 412-unit Class-A rental community in Cape Coral, Florida. The team secured a $66 million construction loan for the project, which is expected to cost $120 million to build. The group paid $11.5 million for the 26-acre property, which is in an Opportunity Zone. In the heart of Cape Coral, outside of Fort Myers, the future community is located just off Pine Island Road.
Each residence will offer private balconies with views of the private lagoon. Curran Young Construction has been tapped as the general contractor. Completion is estimated for the second quarter of 2025.
Shoreham concentrates on value-add opportunities, ground-up rental developments, adaptive reuse, and residential alternatives across the Sun Belt and East Coast regions of the United States.
The post JV Breaks Ground on $120M Cape Coral Rental Community appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
Read MoreConnect CREShoreham Capital, in partnership with Bridge Investment Group and Wynkoop Financial, has broken ground on Siesta Lakes, a 412-unit Class-A rental community in Cape Coral, Florida. The team secured a $66 million construction loan for the project, which is expected to cost $120 million to build. The group paid $11.5 million for the 26-acre property, …
The post JV Breaks Ground on $120M Cape Coral Rental Community appeared first on Connect CRE.