Shoreham-Led Group Delivers 412-Unit Cape Coral Rental Community

Shoreham-Led Group Delivers 412-Unit Cape Coral Rental Community
News| June 6, 2025| Mike Boyd
Florida & Gulf Coast + Apartment Buildings

Shoreham Capital, in partnership with Bridge Investment Group and Wynkoop Financial, completed Siesta Lakes, a 412-unit Class-A rental community in Cape Coral.

Construction on the project began in 2023 following the closing of a $66 million construction loan, with Curran Young Construction serving as the general contractor. The project culminated in the completion of the ninth and final residential building. Leasing launched in early 2025 after the delivery of the clubhouse and the first building.

Situated on a 26-acre site at 186–264 Tierra De Paz Loop, Siesta Lakes is located within a qualified Opportunity Zone just off Pine Island Road. The community offers a mix of one-, two-, and three-bedroom floorplans, private balconies, and direct views of a private central lagoon.

On-site amenities include a resort-style pool, fitness center, dog park, outdoor grilling areas, and walking trails. The community is minutes from Fort Myers and offers convenient access to Sanibel Island, Captiva, and other popular Gulf Coast destinations.

Siesta Lakes is managed by RPM Living.

Other News

Greystar, Vantage Acquire Chamblee Property for 340-Unit Multifamily Community

Atlanta & Southeast + Apartment Buildings

Greystar has plans to build a 340-unit apartment complex in Chamblee. The company spent $11.5 million on 7 acres at 5220 Peachtree. Chamblee officials selected the two firms in 2024 to pursue the project that was previously on city land. The Downtown Development Authority was the seller. The Atlanta Business Chronicle reports that Greystar is...

Learn more

Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap

Apartment Buildings

Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...

Learn more

Mortgage Rates Tilt Demand Toward Multifamily: Marcus & Millichap

Apartment Buildings

An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up