Castle Lanterra Properties has made its first acquisition in the active adult living (55+) asset class with the purchase of Diamond Oaks Village in Bonita Springs, FL.

The recently constructed, Class A, Diamond Oaks Village is a luxury, 160-unit 55+ gated apartment community located between Naples and Fort Myers, in one of the most seniors-rich submarkets in the country. The residential community is close to Interstate 75 and access to a wide variety of medical care facilities.

Diamond Oaks Village is also to multiple shopping and dining destinations, local retailers, grocery stores, and golf courses.

“The acquisition of Diamond Oaks Village speaks to our focus on strategically expanding and enhancing our platform by tapping into distinct asset classes benefiting from demographic trends with lower correlations to the overall economy, including active adult living communities in targeted markets across the country,” said CLP founder and CEO Elie Rieder.