Download Offering Materials: Vantage Fort Myers
On behalf of DevMar Development (the “Developer”), Capstone is pleased to present an equity financing opportunity to support the development of Vantage Fort Myers. Vantage Fort Myers is a to-be-built, 225-unit, 16-story high-rise with a detached 5-story parking garage in the heart of the Downtown Riverfront District in Fort Myers, FL. This Class A community will feature best-in-class amenities and luxurious modern interiors. Located adjacent to Cleveland Avenue (45,000+ VPD), the site is across the street from the Caloosahatchee River waterfront next to Centennial Park and Legacy Harbour Marina.
The site benefits from a tremendous location and is walkable to both the famous Riverfront District as well as the Vantage Fort Myers Downtown Commercial District. Additionally, the site is only a mile north of the Lee Memorial Hospital campus, which has over 1,200 employees and is part of the continuously expanding Lee Health System (17,000+ employees) in Fort Myers, the leading health care provider in Southwest Florida. The broader Fort Myers economy has also continued to perform well, as 40,000+ jobs have been added back since the trough in April 2020 due to COVID-19, bringing the unemployment rate back down to 4%, in line with pre-COVID metrics. As such, the apartment market fundamentals in Fort Myers are extremely robust, as rents have increased by 27% during 2021, while stabilized vacancy has dipped below 4% and is expected to remain below 4% for the next 3 years.
Investment Highlights:
Shovel-Ready Multi-Family Development with All Site Due Diligence Complete
Premier Location within Fort Myers
Robust Fort Myers Economy and Leasing Environment
