#United States #Sunrise #Rockpoint #The Morgan Group #Humbold

Rockpoint, The Morgan Group, and Humbold to Develop Caroline at Sunrise

Rockpoint, a Boston-based real estate private equity firm, alongside The Morgan Group and Humbold Real Estate Ventures, has announced an exciting joint venture aimed at developing `Caroline at Sunrise`, a garden-style apartment complex in the vibrant locale of Sunrise, Florida.

This newly-formed collaboration marks a significant step in addressing the pressing demand for quality multifamily housing in the area. The property will span 21 acres and feature a total of 452 living units, which will consist of 412 apartments along with 40 townhomes. Located in the booming Sunrise submarket of Fort Lauderdale, this project is strategically positioned to take advantage of the rapid growth in the region, which is recognized for its strong connectivity and attractive living conditions.

Development Vision

According to Dan Domb, Managing Member and COO at Rockpoint, the development capitalizes on the increasing trend for community-oriented living spaces that offer not only a home but also a lifestyle. He stated, "We continue to see positive demand dynamics in select Florida submarkets including a shift in tenant preferences towards community-based living." Caroline at Sunrise is envisioned to offer a unique living experience that brings together the conveniences of urban life while embracing the relaxed beachside lifestyle that Florida is known for.

Evan Schapiro, Vice President and East Region Development Partner at The Morgan Group, expressed enthusiasm about the partnership, emphasizing their commitment to excellence and the development's potential: "We look forward to offering tenants the same best-in-class amenities and living experience we have delivered through our Caroline properties across the country."

Project Features

The ambitious project will feature best-in-class amenities, including:

• - A two-story clubhouse equipped with a state-of-the-art fitness center and yoga studio.
• - A resort-style swimming pool.
• - Co-working spaces designed for remote workers.
• - A dedicated pet spa along with an outdoor lounge and dog park.

The development is set to break ground in early 2026, with the first units expected to be ready for residents by late 2027. The focus on providing thoughtfully designed living spaces ensures that it meets a diverse range of resident needs.

Community Impact

The involvement of Humbold Real Estate Ventures, a family-owned firm with strong local ties, underscores the project's community-focused approach. Principals Ariel Kaufman and Lauren Iaslovits expressed their excitement for the initiative, stating, "This project has been in the works for many years, and we’re thrilled to see it come to fruition." They view Caroline at Sunrise as an opportunity to contribute positively to the local landscape by enhancing residential options for community members.

A Longstanding Commitment

Rockpoint boasts a robust history in the real estate sector, having committed to over 140 residential investments since 1995, amounting to more than 97,000 multifamily units. The partnership with The Morgan Group, a firm deeply rooted in multifamily development with over 30,500 units constructed or under development, represents a union of experience and ambition aimed at revitalizing the local housing market.

Humbold also adds a layer of local familiarity to the project, having actively participated in Florida's real estate since 2018. With an emphasis on enriching the community's portfolio, the joint venture signals a promising future for prospective residents in Sunrise.

With Caroline at Sunrise set to bring a blend of modern living and community-driven amenities, the partnership is undoubtedly positioned to alter the landscape of multifamily housing in one of Florida's most sought-after areas.