Forum Capital Advisors arranges $12 million preferred stock for multi-family development in Cape Coral, Florida
CAPE CORAL, Florida., October 4, 2022 /PRNewswire/ — The Forum Structured Finance team of Forum Capital Advisors LLC, a denverreal estate investment and asset management company, announced today that it has closed on a $12 million preferred stock investment supporting the development of a downtown mixed-use complex Cape Coral.
Forum Capital Advisors closes on a $12 million preferred equity investment supporting downtown Cape Coral development
“Forum is delighted to be working with Huntington National Bank on the construction debt for this downtown located development Cape Coral,” said ross macdonald, Senior Director – Investments. “We are delighted to conclude another agreement in the Florida market and I look forward to potential future opportunities with this strong sponsor.”
When complete, expected in 2025, the project is expected to include 327 multi-family units as well as 20,000 square feet of commercial space and structured parking. The five-story development is expected to include a variety of floor plan types, ranging from studios to 3 bedrooms. The building will also include community amenities such as a resort-style pool with outdoor kitchen, dog park, bike storage and workshop.
Cape Coral is home to Lee Health and Florida Southwest College, which employ more than 13,000 employees and 16,000 students. We believe the project is well located in town, adjacent to Cape Coral Parkway, home to over 30 restaurants and bars, a Publix supermarket, and several parks, beaches, and canals.
“The development is led by a very strong, vertically integrated sponsor, who is working in partnership with the city to provide the community with much-needed housing, parking and retail assets. For these reasons, coupled with the strength of the market local, we believe the project will be a huge success,” said Joe ChickeyManaging Partner – Structured Finance.
About Forum Investment Group
Forum Investment Group* is an innovative asset management firm that provides access and expertise to multi-family investments from top to bottom of the capital stack and throughout economic cycles. The company specializes in multi-family acquisitions, developments, real estate debt and structured finance solutions for owners, operators and developers across the United States. Since 2007, Forum has built a track record that seeks to generate reliable current income with an attractive risk/return profile. For more information, visit www.forumcapadvisors.com.
*References to “Forum Investment Group” or “Forum” refer to Forum Capital Advisors LLC (an investment adviser registered with the United States Securities and Exchange Commission that acts as investment adviser to Forum fund vehicles) and Forum Real Estate Group, LLC (Forum’s direct real estate investment arm).
Forum Investment Group is a private real estate investment company with affiliated entities Forum Real Estate Group LLC and Forum Capital Advisors LLC.
Forum Capital Advisors, LLC is a registered investment adviser.
For more information, please visit our website: https://forumcapadvisors.com/
IMPORTANT INFORMATION
This material is provided for informational purposes only and is not intended and can in no way be considered as legal, tax or investment advice, a recommendation or an offer to sell, a solicitation of an offer to buy or a recommendation. any interest in any fund or security offered by Forum Capital Advisors LLC or its affiliates (“Forum”). Past performance does not represent future results. Private market investments are complex and speculative investment vehicles and are not suitable for all investors. Investing in a private market investment involves a high degree of risk and no assurance can be given that the private market investment objectives will be achieved or that investors will receive a return on their capital. The information in this document is subject to change without notice and is also incomplete. This industry information and its importance is an opinion only and should not be considered the only material information available. The information contained herein was obtained from sources believed to be reliable, but not guaranteed, and Forum assumes no responsibility for the information provided.
Securities may be offered through Foreside Financial Services LLC, a registered dealer member of FINRA.
Past performance is not a guarantee or a reliable indicator of future results. As with any investment, there are risks. There can be no assurance that a Portfolio will achieve its investment objective.
Contact:
Siobhan Sargent
Real Estate Group Forum
203.430.9713
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SOURCE Real Estate Group Forum
