Shoreham Capital Breaks Ground on 412-Unit Siesta Lakes Rental Community in Cape Coral, Florida

Groundbreaking of Siesta Lakes: A Game-Changer for Cape Coral's Rental Community

Shoreham Capital, a West Palm Beach-based real estate firm, in collaboration with Bridge Investment Group and Wynkoop Financial, has recently commenced construction on Siesta Lakes. This highly anticipated 412-unit Class-A rental community is set to redefine Cape Coral, Florida's rental landscape. The project, backed by a $66 million construction loan, is slated for completion by the second quarter of 2025.

Setting a New Standard in Rental Living

Shoreham Capital's Managing Partner, Doug Faron, expressed his excitement about the project, emphasizing that Siesta Lakes aims to address the growing housing demand in Cape Coral. The project is expected to set a new benchmark in the rental community, offering top-tier amenities and superior finishes in its one-, two-, and three-bedroom floor plans. Each unit will feature open-concept living spaces, high-end finishes, and private balconies with stunning lagoon views.

Prime Location and Investment Opportunity

Located in the heart of Cape Coral, just a stone's throw from Fort Myers, Siesta Lakes promises a prime location. The community is conveniently situated off Pine Island Road, a bustling corridor lined with national and regional retailers and eateries. Cape Coral, known for its desirable live/work community, offers easy access to popular beaches such as Sanibel Island, Captiva, and Barefoot Beach. Its consistent year-over-year rent growth ranks Cape Coral among Florida's hottest housing markets, making it an attractive investment opportunity.

Shoreham Capital: A Proven Track Record

With over half a century of combined experience in the real estate sector, Shoreham Capital specializes in value-added opportunities, ground-up rental developments, adaptive reuse, and residential alternatives across the Sun Belt and East Coast regions of the United States. Over the past year alone, the firm has broken ground on 600 units and placed an additional 1,500 units under contract, further solidifying its reputation in the industry.

As construction begins on Siesta Lakes, all eyes are on Cape Coral. This project is not just a new rental community; it's a testament to the city's growth and the potential it holds for real estate investors and prospective homeowners alike.