Encore Lands HUD Loan on Ft. Myers Rental Property – SEO Friendly

Encore Lands HUD Loan on Ft. Myers Rental Property - SEO Friendly

Encore Multifamily recently secured a $48.7 million fixed-rate loan through the HUD Section 221(d)(4) program for its Encore Daniels Falls development in Fort Myers, Florida. This class-A multifamily apartment community is situated on 6.73 acres and consists of 240 units, with an expected completion date of Q3 2026.

The modern five-story building will offer a variety of unit options including studio, one-, two- and three-bedroom apartments. Residents will have access to luxurious amenities such as a clubhouse, fitness center, business center, pool area with firepit, dog wash station and park area for their furry friends to play in. Additionally,a designated outdoor lounging space and convenient 24-hour package room will be available.

Fort Myers has experienced significant growth over the past year with its population increasing by 4.73% between 2021-2022 alone,and median household income rising by11%. This makes it an attractive location for Encore Enterprises’ latest project.

Founded in2008,Encore Enterprises specializesin developing multifamily properties from the ground up or through value-add acquisitions within mixed-useand urban infill communities.Since its inception,the company’smultifamily division has completed49 deals totaling approximately $2 billionin assets.Their portfolio includesover10,o00 multifamily unitsacross various markets.They are committedto delivering high-quality developments that enhance communities while providing exceptional living experiencesfor residents.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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