Forum Capital Advisors Seals Equity for Florida Project
Situated in Fort Myers, the project is expected to deliver in 2025.
Forum Capital Advisors LLC has closed a $26 million preferred equity investment for the development of a community in Fort Myers, Fla. The Tailor Apartments will offer 384 residences upon completion.
In prepared remarks, Joe Chickey, managing director & portfolio manager at Forum, said that the project is being led by a sponsor with 25 years of experience in market-rate and affordable communities in the Southeast and Midwest.
Tailor Apartments will be composed of a total of eight buildings that will be three- and four-stories tall and offer two- and three-bedroom layouts. Amenities are set to include a pool, outdoor kitchen, dog park and cornhole court, as well as 48 individual garages and 718 parking spaces. Construction is expected to wrap in 2025.
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Situated along Oritz Avenue, residents are less than a mile from retail and entertainment options including Top Golf, Target, Walmart, Home Depot and Publix. Downtown Fort Myers is less than a 15-minute drive away. Florida Southwestern University and the Lee Memorial Hospital, along with other large employers, are within 20 minutes of the Tailor Apartments. Residents have access to the larger Fort Myers and southern Florida area via Interstate 75 and Highway 82.
Directly east of Fort Myers in Wellington, a celebrity-backed partnership is developing a 600-acre luxury residential club. The project will include a public horseback riding center, commercial center and park. Tiger Woods and Justin Timberlake are two of the names associated with the project.