Shoreham Capital Acquires Multifamily Property In Cape Coral For $120M From Seller RL Siesta Lakes

The multifamily property located at 186-264 Tierra De Paz Loop in Cape Coral was recently sold for a price of $120,000,000. The property consists of 412 units, with an average price per unit of $291,262. The total square footage of the property is 560,000, with a price per square foot of $214. The sale took place on 06/30/2022 and the seller was RL Siesta Lakes, represented by Yaron Kandelker.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $120,000,000
• Units: 412
• Price Per Unit: $291,262
• Square Footage: 560,000
• Price Per Square Foot: $214
• Date: 06/30/2022
• Market: Cape Coral

The buyer of the property was Shoreham Capital, represented by Doug Faron, Steve Figari, and Nick Zoumas. Shoreham Capital, headquartered in West Palm Beach, Florida, focuses on value-add opportunities in the multifamily space and ground-up rental developments, including built-for-rent communities. Doug Faron previously worked as a managing director at CIM, Steve Figari at Slate, and Nick Zoumas is the founder and owner of JNS Homes. Shoreham Capital is actively seeking residential properties and land for development, with a focus on the East Coast of the United States, particularly Florida.

For any further inquiries or to submit deals, interested parties can contact Shoreham Capital at [email protected].