Mast Capital JV Tops Off in Fort Myers
Upon delivery later this year, the community will feature more than 300 luxury units.
Mast Capital and partner BLG Capital Advisors have topped off construction of The Winslow, a 320-unit upscale rental community in North Fort Myers, Fla. The development is slated for completion later this summer.
The project broke ground on the site of a former shopping center in March 2024 at 13370 Magnolia Oak Circle. It is situated in a rapidly growing neighborhood near downtown Fort Myers, Fla.
The joint venture had secured a $65 million construction loan from CenterBridge Partners, which served as an agent for MassMutual Life Insurance Co. General contractor Kaufman Lynn is overseeing the construction process. Humphreys & Partners Architects designed the project.
Located on nearly 15 acres, the property will consist of three- and four-story apartment buildings surrounded by lush landscaping in a pedestrian-friendly setting. The apartments will feature vinyl plank flooring, quartz countertops, stainless steel appliances and full-size washers and dryers. Bathrooms will have a spa-like design with backlit mirrors and soaking tubs. Large balconies will also be included.
Community amenities will feature a fitness center, lounge, entertainment kitchen, marketplace, dog spa and workspace area for residents working from home. Outdoor features will include a swimming pool, large sun deck with covered cabanas, fireplaces and grill stations, dog park and multiple activity and fitness lawns.
The Winslow was developed with the Revitalization Pilot Program of Lee County. The Fort Myers market, located on Florida’s Gulf coast, is home to more than 21 million square feet of office space with more than 360,000 employees.
The community is situated near Lee Memorial Hospital, one of the top employers in Southwest Florida. Other employment hubs and lifestyle centers are nearby in downtown Fort Myers and Midtown. Downtown Fort Myers has many sidewalk cafes and restaurants, shops and boutiques along with arts and entertainment offerings.
An active Florida developer
Mast Capital is one of Florida’s most active real estate development and investment firms with a portfolio that includes residential, hospitality and commercial properties throughout the state. The firm’s portfolio, including acquisitions, represents more than $4 billion in total project capitalization. Mast Capital’s new ground-up developments include more than 4,000 units in South Florida as well as in the Fort Myers and Tampa metro areas.
In September, Mast Capital and Rockpoint completed The Harlow, a 248-unit luxury apartment community in Wesley Chapel, Fla., a fast-growing suburb north of Tampa. The Harlow is a garden-style property on 16 acres that has one-, two- and three-bedroom units.
Last summer, Mast Capital and AEW delivered Remi on the River, an eight-story, 342-unit second phase of a 688-unit luxury community in the Miami River District. The site is minutes from downtown Miami, the Brickell Financial District and the Miami Health District.
