Halstatt Real Estate Partners Announces Soltura at The Forum Phase II
Naples, Fla. – June 7, 2022 – Halstatt Real Estate Partners, a real estate private equity firm, today announced a capital commitment to develop a second build-for-rent community in Fort Myers, Fla. Soltura at the Forum Phase II is located 0.6 miles from Halstatt’s Phase I, Odyssey by Soltura, and represents its second joint venture with Southwest Florida based developer, Soltura Development Group. The property will feature 160 units supported by a clubhouse, community social and fitness programming, a pool, firepit, and dog park. The property is situated in an established master-planned community, The Forum, complete with restaurants, retail, educational and medical facilities, assisted living, residential communities, and public parks.
“With the success of Odyssey by Soltura, we are thrilled to be providing another new offering of build-for-rent units.”
Steve Iannaccone, Principal, Halstatt Real Estate Partners
“As one of the first build-for-rent communities in Southwest Florida, both Phase I and II will offer renters a product unlike anything else in the existing apartment stock,” continued Iannaccone. “As we follow significant demographic trends and are constantly looking for opportunities that are at the forefront of evolving consumer needs, we fully expect continued growth for this product segment.”
Each of the 160 single-family rental homes will be complete with a private yard and supported by a robust community amenity package. The units are a mix of one-, two-, and three-bedroom residences offered in a clustered, two-story cottage format each with its own backyard and outdoor patio space, which offer an additional 533 sq. ft. of living space to each unit on average. This differentiated offering provides residents with the affordability and convenience of apartment living with all the advantages of a single-family home lifestyle.
“The build-for-rent asset class has emerged as an attractive alternative multifamily strategy due to its general outperformance over conventional apartments,” said Danville Leadbetter, cofounder of Soltura Development Group. “We are seeing accelerated demand being driven by demographic shifts and changing living preferences of renters due to older millennials seeking more space and an affordable living solution. We are thrilled to partner with Halstatt Real Estate Partners to bring another much-needed rental alternative to market, and are confident we will continue to see demand for this emerging asset class.”
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. Recently the company released a whitepaper on what is driving demand in the BFR space. To view it visit, Evolution of Rental Housing – The Rise of Build-For-Rent.