Your free article limit has been reached this month.

Fort Myers build-to-rent development gets $58 million in financing

The 202-unit community is under construction in the Portofinio Vineyards development.

By Louis Llovio
| 4:30 p.m. September 7, 2023
| 0 Free Articles Remaining!

Build-to-rent community under construction in Fort Myers gets financing.

Charlotte–Lee–Collier

The developer behind a Fort Myers build-to-rent community has gotten $58 million in construction financing.

Hollywood, Florida-based Prime Hospitality Group was lent the money to develop the Woodlands, one of three communities in the Portofino Vineyards development in the Three Oaks neighborhood near Three Oaks Parkway.

The funding for the $98 million project is coming from Centennial Bank. Eugene Font, a senior vice president and commercial loan officer at the bank, says construction has already begun, and the project is due to be delivered in 2025.

Your Business News. Your Way.

Subscribe today. Cancel anytime.

BEST VALUE

Annual Subscription

^$75

What's included:

✓ Unlimited digital access to BusinessObserverFL.com
✓ E-Newspaper app, digital replica of print edition
✓ Mailed print newspaper every Friday (optional)
✓ Newsletter of daily business news

Select

Cancel anytime

Monthly Subscription

^$6⁹⁹

What's included:

✓ Unlimited digital access to BusinessObserverFL.com
✓ E-Newspaper app, digital replica of print edition
✓ Mailed print newspaper every Friday (optional)
✓ Newsletter of daily business news

Select

Cancel anytime

Introductory Offer

^$1

$1 per week for 1 year. Billed as $4 every 4 weeks

What's included:

✓ Unlimited digital access to BusinessObserverFL.com
✓ E-Newspaper app, digital replica of print edition
✓ Mailed print newspaper every Friday (optional)
✓ Newsletter of daily business news

Select

Cancel anytime
Offer valid for new subscribers only.

e-Newspaper App

Our new easy-to-use e-Newspaper is a digital replica of the print edition. Scroll through the pages on your laptop, smartphone or tablet.

Already a subscriber?

author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.