Encore Lands HUD Loan on Ft. Myers Rental Property

Encore Multifamily secured a $48.7 million fixed-rate HUD Section 221(d)(4) loan for its Encore Daniels Falls development, a class-A multifamily apartment community located in Fort Myers, Fla. The 240-unit, 6.73-acre project broke ground in December of last year, and is projected to deliver by Q3 2026.

Encore Daniels Falls will offer studio, one-, two- and three-bedroom units in a modern, five-story urban-style building. Luxury amenities will include a clubhouse, fitness center, business center, pool, firepit, dog wash, dog park, outdoor lounging and a 24-hour package room.

Between 2021 and 2022 alone, the Fort Myers population grew 4.73%, with its median household income increasing by 11.1%.

Established in 2008, Encore Enterprises is a full-scale multifamily developer focused on both ground-up developments and value-add acquisitions in mixed-use and urban infill communities. Since its inception, Encore Multifamily has transacted 49 deals representing approximately $2 billion in assets. The company has overseen the acquisition, repositioning and development of more than 10,000 multifamily units.