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DENVER, May 16, 2023 ~ Forum Capital Advisors LLC, a Denver-based asset management firm, has closed on a $26 million preferred equity investment to support the development of Tailor Apartments, a 384-unit multifamily project in Fort Myers, Florida.
Ross Macdonald, Senior Director – Investments at Forum Capital Advisors LLC said "We are thrilled to close this deal in what we believe to be a strong market, with an experienced sponsor. We continue to see positive rent growth projected in the Fort Myers submarket, which was one of the key factors in making this an attractive investment opportunity for Forum."
The development is expected to be completed by 2025 and will include eight buildings with three and four stories. The building will feature 48 individual garages and 718 surface parking spaces as well as a variety of floor plan types ranging from one to three-bedroom units. Community amenities such as a resort-style pool with an outdoor kitchen, dog park, and cornhole court will also be available for residents.
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Located along Ortiz Avenue with proximate access to I-75 and Highway 82, Tailor Apartments is approximately 12 minutes away from downtown Fort Myers and 15 minutes away from Lee Memorial Hospital and Florida Southwestern University. Retail and recreation offerings such as Target, Publix, Walmart, Top Golf, and Home Depot are also under a mile away from the property.
Joe Chickey, Managing Director - Portfolio Manager at Forum Capital Advisors LLC said "The development is led by an experienced sponsor with a 25-year track record of developing high-quality market-rate and affordable multifamily developments in the Southeast and Midwest regions. The Forum team has extensive experience working with the sponsor, and we're happy to partner with them again on this investment."
Forum Capital Advisors LLC has closed on a $26 million preferred equity investment for Tailor Apartments in Fort Myers, Florida. Ross Macdonald Senior Director – Investments said that they believe it is a strong market with an experienced sponsor which made it an attractive investment opportunity for Forum due to positive rent growth projected in the Fort Myers submarket.
More on Colorado Desk
The development is expected to be completed by 2025 featuring eight buildings with three and four stories including 48 individual garages and 718 surface parking spaces as well as various floor plan types ranging from one to three bedrooms units along with community amenities such as resort style pool with outdoor kitchen dog park and cornhole court for residents.
Located along Ortiz Avenue near I-75 & Highway 82 it is approximately 12 minutes away from downtown Fort Myers & 15 minutes away from Lee Memorial Hospital & Florida Southwestern University while retail & recreation offerings such as Target Publix Walmart Top Golf & Home Depot are under 1 mile away from the property.
Joe Chickey Managing Director - Portfolio Manager said that they have partnered again on this investment due to their extensive experience working with the experienced sponsor who has 25 years track record of developing high quality market rate & affordable multifamily developments in Southeast & Midwest regions
Ross Macdonald, Senior Director – Investments at Forum Capital Advisors LLC said "We are thrilled to close this deal in what we believe to be a strong market, with an experienced sponsor. We continue to see positive rent growth projected in the Fort Myers submarket, which was one of the key factors in making this an attractive investment opportunity for Forum."
The development is expected to be completed by 2025 and will include eight buildings with three and four stories. The building will feature 48 individual garages and 718 surface parking spaces as well as a variety of floor plan types ranging from one to three-bedroom units. Community amenities such as a resort-style pool with an outdoor kitchen, dog park, and cornhole court will also be available for residents.
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Located along Ortiz Avenue with proximate access to I-75 and Highway 82, Tailor Apartments is approximately 12 minutes away from downtown Fort Myers and 15 minutes away from Lee Memorial Hospital and Florida Southwestern University. Retail and recreation offerings such as Target, Publix, Walmart, Top Golf, and Home Depot are also under a mile away from the property.
Joe Chickey, Managing Director - Portfolio Manager at Forum Capital Advisors LLC said "The development is led by an experienced sponsor with a 25-year track record of developing high-quality market-rate and affordable multifamily developments in the Southeast and Midwest regions. The Forum team has extensive experience working with the sponsor, and we're happy to partner with them again on this investment."
Forum Capital Advisors LLC has closed on a $26 million preferred equity investment for Tailor Apartments in Fort Myers, Florida. Ross Macdonald Senior Director – Investments said that they believe it is a strong market with an experienced sponsor which made it an attractive investment opportunity for Forum due to positive rent growth projected in the Fort Myers submarket.
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The development is expected to be completed by 2025 featuring eight buildings with three and four stories including 48 individual garages and 718 surface parking spaces as well as various floor plan types ranging from one to three bedrooms units along with community amenities such as resort style pool with outdoor kitchen dog park and cornhole court for residents.
Located along Ortiz Avenue near I-75 & Highway 82 it is approximately 12 minutes away from downtown Fort Myers & 15 minutes away from Lee Memorial Hospital & Florida Southwestern University while retail & recreation offerings such as Target Publix Walmart Top Golf & Home Depot are under 1 mile away from the property.
Joe Chickey Managing Director - Portfolio Manager said that they have partnered again on this investment due to their extensive experience working with the experienced sponsor who has 25 years track record of developing high quality market rate & affordable multifamily developments in Southeast & Midwest regions
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