Halstatt, Soltura Open Phase 1 of BTR Community
Equity Bank issued a $47 million construction loan.
Halstatt Real Estate Partners and Soltura Development Group have opened the first phase of Swell by Soltura, a 200-unit build-to-rent property in Bonita Springs, Fla. The remaining cottages will come online in subsequent stages.
The duo secured a $47 million construction loan from Equity Bank in 2023 and broke ground last year, Yardi Matrix data shows. Avenue5 Residential provides BTR property management services, according to the same source.
Floorplans call for one- to three-bedroom layouts ranging from 747 to 1,626 square feet. The two-story cottages will feature private first-floor entrances, as well as fenced backyards averaging 530 square feet. Common-area amenities will include a swimming pool, dog park, gym and work area.
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Located at 26502 Longboard Drive, the property is about 28 miles southeast of downtown Fort Myers, Fla. Midtown Bonita, a 30-acre mixed-use project set to encompass retail, office, residential and hospitality space, is within walking distance, while Interstate 75 runs less than 1 mile away.
Swell by Soltura is Halstatt’s seventh BTR project, while also being the fourth such development that the company built together with Soltura. Another community owned by the two firms is Argos by Soltura, a 139-unit BTR property in Fort Myers, Fla. Halstatt’s BTR footprint comprises more than 1,350 rental homes.
Southwest Florida’s BTR completions have room to grow
North of 600 BTR units came online across the Southwest Florida Coast year-to-date through July, according to Yardi Matrix data. BTR deliveries represented 7.5 percent of total multifamily completions in the market, a figure substantially below the national average of 14.5 percent registered in May. The region still held upward of 1,000 rental homes under construction in July, the data provider shows.
