Investor Trio Welcomes Tenants to a $120M Cape Coral Apartment Venture

Shoreham Capital, in partnership with Bridge Investment Group and Wynkoop Financial, has begun leasing at Siesta Lakes, a 412-unit Class-A rental community in Cape Coral, Florida. The leasing launch follows the completion of the clubhouse, which includes the leasing office, and the first of nine buildings that comprise the $120 million project.

The property is secured by a $66 million construction loan, which was secured in September 2023. Construction is expected to be completed by the second quarter of 2025. 

The partnership acquired the 26-acre development site, which is within a qualified Opportunity Zone, in July 2022. Located at 186-264 Tierra De Paz Loop, Siesta Lakes offers premier finishes in its one-, two-, and three-bedroom floorplans and an amenity package, which includes a clubhouse, resident lounge, fitness center and flex fitness room, pool, co-working lounge, EV charges, mini-mart and pickleball court.

Each residence offers private balconies all with direct views of the private lagoon. Apartments range from $1,400 to $2,200 per month.