Captec Realty Capital originally was involved in this project with another developer, Devlin Development. Then La Playa Properties bought out the original developer on just this project, according to Captec.
The project, which has been under construction for a while with some buildings complete, will feature one-, two- and three-bedroom units and include lake views. It is located on MacGregor Boulevard, a major highway in Lee County, less than one mile from the Caloosahatchee River.
An affiliate of Captec Financial Group Inc., Captec Realty Capital is serving as the developer's capital partner by providing equity capital for new development and allowing the developer to focus on growing its business. Captec is a commercial finance and real estate company based in Ann Arbor, MI.
La Playa Properties of Santa Barbara, CA, is a multi-family developer formed in February. The firm focuses on developments and acquisitions in the southeastern and southwestern United States.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
