#United States #Naples #TerraCap Management #apartment complexes #West End City Walk

TerraCap Management Expands Portfolio in Florida

In a strategic move to strengthen its investment presence in the Sunshine State, TerraCap Management LLC, a privately owned investment firm headquartered in Naples, Florida, has successfully acquired two apartment complexes: West End City Walk in Fort Myers and The Napier in Daytona Beach. Both properties are brand new, having been built in 2021, and come equipped with high-end amenities that are often found in luxury establishments.

Details of the Acquisitions

West End City Walk

Located in the vibrant downtown area of Fort Myers, West End City Walk boasts a total of 318 units ranging from one to two-bedroom apartments. This complex offers a wealth of amenities, including:

• - Swimming pool
• - Multiple grilling stations
• - Fire pits
• - Pet park and pet spa
• - Fitness center
• - Rooftop terrace
• - Theater room
• - Putting green and game room

One of the property's significant advantages is its prime location, being just a 10-minute walk from Fort Myers' historic downtown district and in close proximity to major highways US-41 and I-75, which are vital for connecting to the top demand drivers in Southwest Florida.

The Napier

On the other hand, The Napier features 380 units and offers an array of options, including one, two, and three-bedroom apartments. The amenities include:

• - Swimming pool
• - Grilling stations and campfire spaces
• - Pet park
• - Advanced fitness facilities
• - Sauna and steam room
• - Hot and cold plunge pools
• - Golf simulator
• - Pickleball court

Located across from Advent Health Hospital, The Napier has exceptional access to I-95, making it a desirable choice for potential residents.

Strategic Insights from TerraCap

Steve Hagenbuckle, the founder and managing partner of TerraCap, expressed optimism regarding these acquisitions, stating, "We are honored to have been awarded the Sunshine Multifamily Portfolio. The properties are newer, well-located apartments, and have attractive high-end amenities typically found in 5-star hotels." This purchase aligns with their investment thesis, which focuses on quality assets in burgeoning locations.

Matthew Hart, a partner at TerraCap and Director of Investment Analytics, added that the unique features and finishes of these properties distinguish them from competitors. This acquisition aligns with TerraCap's goal of investing in high-quality assets in regions with promising growth opportunities.

Team Collaboration

The acquisition process was facilitated by professionals from Apex One and Walker Dunlop, who ensured a smooth transition of ownership. ZRS Management has been appointed to oversee property management for these complexes.

About TerraCap Management LLC

Established in 2008, TerraCap Management LLC specializes in identifying and investing in market-specific opportunities by evaluating factors such as business formation, employment growth, and population trends. The firm focuses on managing approximately 7 million square feet of commercial real estate, with assets totaling over $2.1 billion under management.

With operations spanning multiple offices, including those in Tampa, Atlanta, and Denver, TerraCap is well-positioned to leverage its industry expertise to enhance its investment strategies. For further insights into their operations and investment philosophy, visit terracapmgmt.com.