Freedom Venture Investments has secured a lead investment from Volta Global and closed on construction financing from Broadmark Realty Capital to break ground on a 106-unit workforce housing apartment complex in Cape Coral, FL. The $25 million project will add 106 garden-style apartments to an area suffering from a housing crisis, worsened by the impact of Hurricane Ian on Lee County. The construction was made possible thanks to a $19.9 million loan from Broadmark Realty Capital. Pre-leasing on the apartments is set to begin in the spring of 2023.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $19,900,000
• Units: 106
• Square Feet: 88,485
• Address: 35 NE 10th Pl, Cape Coral
• Market: Cape Coral

Cape Vista Apartments represents Freedom Venture Investments' latest development in its strategy to deliver high-quality yet affordable housing for working families. Alongside the workforce housing apartment complex, the company plans to develop "Single-Family Build-For-Rent" communities, providing residents with the lifestyle of a single-family home combined with maintenance-free living, as well as ground-up Class A workforce garden-style multifamily units and value-add redevelopments. With over 1,200 units in various stages of development throughout the Southwest Florida Coast, Freedom Venture Investments aims to invest an additional $1 billion into new housing projects aligned with its strategic partners.