Halstatt Real Estate Partners, a US-based real estate private equity firm, has broken ground on a new residential project, Argos by Soltura, in Fort Myers, Florida, US.
The property is five miles from Odyssey by Soltura and Altair by Soltura, which are the company’s two build-for-rent projects in Fort Myers. Both these projects will offer a total of 429 units.
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Argos by Soltura marks the third collaboration between Halstatt Real Estate Partners and Soltura Development Group, a Florida-based housing developer.
Halstatt Real Estate Partners principal Steve Iannaccone said: “The demand for build-for-rent properties remains strong, and our initial success at Odyssey by Soltura has energised us.
“In just six months, we achieved 90% occupancy, and tenant interest in this unique rental product has exceeded our expectations despite economic uncertainty. We are addressing worsening housing affordability in Southwest Florida, caused by the current interest rate environment, by offering another highly differentiated rental alternative to the market.”
Argos by Soltura will be a 140-unit community offering a mix of one, two, and three-bedroom floorplans in a clustered, two-storey cottage structure.
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By GlobalDataBesides featuring private first-floor entryways, all residences will have landscaped backyards with patios, which offer an average of 533ft² of extra living space per unit.
The project will provide facilities such as a clubhouse, a fitness centre, a lounge room/work area, and a mailroom, along with a resort-style pool with cabanas.
It is near the intersection of two main arterial roads in Fort Myers, Winkler Avenue, and Metro Parkway.
It also backs up to the N Colonial Linear Trail, offering residents easy access to the bike trail and community park.
Soltura Development Group cofounder Danville Leadbetter said: “Southwest Florida continues to benefit from migration as more residents leave the colder and less tax-friendly states.
“We are very confident in our development team and partnership’s combined ability to bring another differentiated rental project to the market.”
