Sold January 2024
The Cape at Savona Point is a 320-unit Class A luxury mid-rise community located in Cape Coral, Florida. Situated within the rapidly growing Fort Myers/Cape Coral MSA, GDP for the area is projected to outpace the national economy through at least 2024, per Oxford Economics. Residents of the property have easy access to the area's largest employers in the area, including Lee Memorial Health Systems, Lee County School District, Publix, Walmart, Lee County Government, and Chico's. Residents also enjoy proximity to some of the area's top schools, with Lee County School District rated A- by Niche.com.
The Cape at Savona Point, completed in 2020, consists of eight mid-rise buildings and one fully amenitized clubhouse and community center. The property offers one, two, and three-bedroom floorplans ranging in size from 820 square foot one-bedroom plans to 1409 square foot three-bedroom plans. Unit amenities include a private patio or balcony, keyless entry, 9' ceilings, ceiling fans with light kits, 2" faux-wood mini-blinds, some walk-in showers, stone granite countertops, island kitchens, and a full-size washer and dryer. Some units contain stand-up showers and pool or lake views. The luxury community package includes a state-of-the-art clubhouse, elevators, dog spa, bike and hike trails, storage units, playground, valet trash, electric car charging stations, Bark Park, controlled access, detached garages, basketball court, resort-style pool with summer kitchen, yoga studio, pickleball court, and a fully amenitized cardio and fitness studio.
Hawthorne Management assumed property management services at closing. ApexOne Multifamily Special Situation Fund IV, LP purchased The Cape at Savona Point and will hold long-term to capture growth and appreciation.