Ft. Myers BTR Development Gets $59M Construction Loan
Centennial Bank has provided a $58.8 million construction loan to Prime Hospitality Group for the development of Woodlands at Portofino Vineyards. Located at 19093 Cresenzo Court within the Three Oaks community, Woodlands is a Build-to-Rent community.
The single-family residences at Woodlands offer multiple floorplans and amenities, including a clubhouse, pool, and fitness facilities nestled among nature preserves and lakes. It’s one of three communities in Portofino Vineyards, a 71-acre community five minutes from Florida Gulf Coast University. It includes the apartment complexes the Grove and the nearly-complete Orchard.
The Woodlands will consist of 96 townhomes and 106 single-family residences. Developers say Woodlands will tap into an “increasing societal shift toward a carefree lifestyle that offers convenience and freedom without property maintenance and homeownership responsibilities.”
The BTR market in Florida is heating up. The Tampa metro area has 1,404 BTR under construction, and Sarasota has 770 units.
Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.