Atlanta firm pays $10.5M, borrows $38.5M to build Fort Myers apartments

Naples/Fort Myers/Charlotte 

Land grab: A pair of Atlanta developers are getting into the multifamily business in Fort Myers. The Brook Farm Group and Rail Gauge Partners has begun construction on a 265-unit apartment community on an 8.5-acre parcel on U.S. Highway 41 and Trailwinds Drive. The property is directly next to the Palm Pointe Shoppes retail center. The community, The Sinclair at Palm Pointe, will be made up of two four-story buildings with one-, two- and three-bedroom units ranging in size from 650 square feet to 1,369 square feet. It will also have a 3,800-square-foot clubhouse, two-level fitness center and about 2,200 square feet of coworking space. The first units are expected to be complete in early 2026. Brook Farm and Rail Gauge did not disclose what the entities paid for the property or how much was received in financing to build the community. But according to Lee County property records, Brook Farm, using an LLC, paid $10.5 million for the land. A copy of the deed in court records shows it closed on the deal July 11. Records also show that the LLC, which in the state’s Division of Corporations database and on the official documents shares Brook Farm’s address, secured a $38.5 million mortgage on the same day. The previous owner paid $3.4 million for the property.