FRP, Woodfield Begin Work on Expansive Estero Development
FRP Development Corp, in partnership with Woodfield Development, has started construction on the first phase of its Coconut Road mixed-use development in the Village of Estero, Florida. At 23281 Lyden Drive, across from Coconut Point, the development is planned to include approximately 600 apartment homes, 80,000 square feet of retail space, 20,000 square feet of office space and a boutique 190-room hotel. It’s to be designed by Dover Kohl & Partners. Estero is south of Fort Myers.
The first phase will include approximately 296 apartment homes in a mix of three- and four-story residential buildings, together with 30,000 square feet of retail space. Initial residential units are anticipated to deliver in the third quarter of 2027. The developers secured an $81.5 million construction loan from Santander Bank to support construction of the project. Construction of the first phase is being led by general contractor Brooks & Freund, in collaboration with Humphreys & Partners Architects and interior design firm ID & Design International.
Other News
Lewis Group Opens Second NorCal Rental-Home Community in West Sacramento
Independence in West Sacramento, a new gated community of 208 townhome-style rental homes developed by Lewis Apartments, opened its leasing office and model homes to the public on Saturday, Oct. 24. Located in West Sacramento’s Southport/Bridgeway Island area, Independence introduces rental homes designed for residents who want the space and privacy of a single-family home...
Learn more
CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
CBRE announced the sale of a 4.66-acre parcel at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, Wisconsin. Louisville, Kentucky-based Trilogy Real Estate Fitchburg LLC purchased the property from Fairchild Development LLC for $2.23 million, marking the company’s third location in the Madison market and expanding its footprint beyond its...
Learn more
Northmarq Arranges $96M Refi on SoCal Apartment Portfolio
Northmarq has arranged $95.8 million in refinancing for a six-property, 1,461-unit multifamily portfolio owned and operated by E&S Ring across Los Angeles and San Bernardino Counties. The financing was arranged through Voya Investment Management by Northmarq’s San Francisco Debt + Equity team, led by managing director Nathan Prouty, SVP Andrew Slaton and senior investment anaylst...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout