Funds controlled by Loci Capital Fund I, LP, an affiliate of Loci Capital Group, have completed a recapitalization of Prose Stevens Pointe, a workforce housing community in St. Cloud, Florida. The 264-unit property is located on 10.9 acres within the Stevens master-planned development near Orlando and was structured around a basis-driven investment strategy focused on attainable rents relative to new construction in the surrounding submarket.
The business plan for Prose Stevens Pointe centered on maintaining a disciplined basis while offering workforce-oriented housing at pricing positioned below that of comparable new deliveries. According to Loci Capital, the team executed its operating strategy and then moved to position the asset for a liquidity event despite changes in the broader capital markets environment.
Garrett Francis, Head of Multifamily at Loci Capital, described Prose Stevens Pointe as an example of how disciplined basis and careful deal structuring can help an asset perform across different points in the market cycle. He noted that the firm remained focused on carrying out its original plan and preparing the property for a successful capital event as conditions evolved.
With operational objectives achieved, Loci Capital shifted its attention to investor liquidity. The firm completed a recapitalization of Prose Stevens Pointe in the fourth quarter of 2025, providing a full exit for investors in Loci Capital Fund I, LP. The transaction marked a realized outcome for that vehicle and reflected the firm's emphasis on converting its investment strategies into realized results.
Casey Wilson, Head of Capital Formation at Loci Capital, said the recapitalization represents another successful exit for the firm's investors and aligns with its focus on executing strong investment theses through to completion. The outcome at Prose Stevens Pointe underscores the firm's approach of pairing disciplined underwriting with actionable strategies for liquidity.
Since its launch in 2019, Loci Capital reports that it has deployed more than $350 million of equity into real estate investments totaling over $1.4 billion in value across the Southeastern United States. The firm's activity spans multiple markets in the region, with Prose Stevens Pointe serving as a recent example of its focus on workforce-oriented multifamily housing and capital markets execution.
The recapitalization of Prose Stevens Pointe highlights ongoing investor engagement with workforce housing assets that can demonstrate durable performance and support structured liquidity events. While specific pricing or capital stack details were not disclosed, the transaction delivered a full exit for Fund I investors and reflects Loci Capital's broader efforts in the multifamily sector.
