National developer buys 17 acres in Sarasota for 336 apartments

Naples, Fort Myers and Charlotte

A 412-unit Cape Coral apartment complex is nearly complete. Shoreham Capital, along with Bridge Investment Group and Wynkoop Financial, bought the 26-acre property at Tierra De Paz Loop in 2022 for $11.5 million. Construction started in 2023. So far, a two-story clubhouse and four apartment buildings are complete. The remaining five apartment buildings are scheduled to be ready by April. A Shoreham spokesperson says move-in dates haven’t been set but leasing has begun. The low-rise community near Pine Island Road will be named Siesta Lakes. It will include one-, two- and three-bedroom units. The amenities will be fairly standard with a gym, pool and business center. West Palm Beach-based Shoreham is real estate investment firm which, according to its website, specializes in ground-up rental developments, adaptive reuse and single-family rentals and build-to-rent communities. Its other local projects include Juniper Point, a townhouse community in Naples, and The Preserve at Poinciana, a single-family home rental community in Polk County.