The $25 million the project adds apartments to the area experiencing an affordable home crisis
FORT MYERS, Florida., October 27, 2022 /PRNewswire/ — Freedom Venture Investments has secured financing and opened a 106-unit apartment complex, Cape Vista Apartments in Cape Coralas part of the company’s strategy to provide high quality housing at an affordable price.
The $25 million project will add 106 garden-style apartments to an area that is experiencing a housing crisis due to a lack of affordable homes for sale and homes for rent, a situation exacerbated by the impact of Hurricane Ian on Lee County.
“Cape Vista is designed to provide our tenants with quality housing at an affordable price. We are working to fill the “missing middle” in the market,” said the CEO of Freedom Venture Investments. David Seymour.
Cape Vista offers six unique unit configurations offering two-bedroom/two-bathroom layouts designed to appeal to working families and retirees. The units feature condo-level finishes, and the grounds will include walking and exercise paths and a playground.
Freedom Venture Investments acquired the Cape Vista site in January 2022 and prepared the site for construction of the units. A $19.9 million loan was obtained from Broadmark Realty Capital for the construction. The pre-letting of the apartments will begin in the spring of 2023.
Freedom Venture Investments has over 1,200 units in various stages of development across the southwest coast of Florida. The company intends to deploy an additional system $1 billion in new housing projects aligned with strategic partners such as Volta Global, a Miamiprivate equity and real estate investment company. A portion of the portfolio is concentrated in “single-family built-to-let” communities, offering residents the lifestyle of a maintenance-free single-family home.
For more information about Freedom Venture Investments, visit Freedomventure.com.
About Freedom Venture Investments
Freedom Venture Investments is a real estate development and asset management company that focuses solely on preserving capital while maximizing returns for investors. The company was founded by experienced private equity real estate professionals David Seymour, Walter Novickiand Eric Wilson. Freedom Venture creates opportunities where their experience, local connections, and management abilities provide an advantage to their investors.
Media Contact: [email protected]
SOURCE Liberty Venture Investments