Going Uptown

With projects like the Channelside and Midtown apartments under its corporate belt, Aileron Capital Management has developed a track record of completing deals and building quality multifamily projects in Lee County.

But when the Tampa-based company sought capital for its latest venture, a 320-unit complex that will be part of a 32-acre, mixed-use development in Cape Coral, it ran headlong into the new realities of multifamily financing.

Aileron's Uptown at Liberty Park penciled out from an underwriting standpoint, and had solid demographic in-migration in its favor. The developer also enjoys a good relationship with lender American Momentum Bank, which financed Channelside in 2014.