Shoreham Capital Acquires Cape Coral Multifamily For $120M

The multifamily property located at 186-264 Tierra De Paz Loop in Cape Coral has been sold. The property consists of 412 units with a total square footage of 560,000. The sale price for this transaction was $120,000,000, resulting in a price per unit of $291,262 and a price per square foot of $214.

Summary of transation 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

Shoreham Capital, represented by Doug Faron, Steve Figari, and Nick Zoumas, along with Bridge Investment Group, purchased the property. The seller, RL Siesta Lakes, was represented by Yaron Kandelker. Shoreham Capital, based in West Palm Beach, Florida, focuses on value-add opportunities in the multifamily space and ground-up rental developments. Doug Faron was previously a managing director at CIM, Steve Figari was a managing director at Slate, and Nick Zoumas is the founder and owner of JNS Homes. They are actively seeking residential properties and land for development, with a geographic focus on the East Coast of the United States, particularly Florida. For any deals, please contact [email protected].