Inland Private Capital Corporation (“IPC”), an industry leading real estate investment manager, today announced the completion of a more than $54 million capital raise for the private investment offering of Fort Myers BTR DST, an IPC-sponsored Delaware statutory trust (“DST”). The offering has been fully subscribed by investors and is now closed.
The DST owns the Odyssey on Soltura, a newly constructed, Class A, build-to-rent (“BTR”) single-family rental community located at 10131 Soltura Drive in Fort Myers, Florida. The property is comprised of 129 units across 20 villa-style buildings and 89 free-standing residential homes. The single-family cottage-style homes feature large private fenced-in backyards, covered lanais, high-end interior finishes and a “SmartHome” technology package. Residents can also enjoy community amenities including a resort-style pool, pergola with outdoor dining space, a fitness center, co-working space with private offices, a dog park with pet water fountains and an event lawn for playing outdoor games.
“We continue to see significant opportunity in the BTR space,” said Nati Kiferbaum, senior vice president – head of investment product strategy for IPC. “Our overarching investment thesis is driven by demographic tailwinds from both millennial and baby boomer generational cohorts and their changing consumer preferences. As the market grapples with waning home affordability driven by a shortage in housing stock, we believe we are in the early innings of growth in single-family rental demand, which should benefit the performance in the BTR sector in the years to come.”
IPC’s current BTR portfolio spans more than $1.19 billion in assets under management. The portfolio is comprised of 18 properties in Alabama (1), Arizona (13), Colorado (1) and Florida (3), totaling 3,671 units. IPC’s current portfolio of multifamily assets, including BTR assets, spans more than $4.6 billion as of June 30, 2024.
In Florida specifically, IPC has a large multifamily presence (including BTR assets) with 21 properties totaling 5,810 units under management across the state.
IPC specializes in offering multiple-owner, tax-focused, private placement investments including Qualified Opportunity Zone investments throughout the U.S. Since inception, IPC has monetized more than $4.7 billion in full-cycle transactions on behalf of its investors. Currently, IPC manages a diverse portfolio of more than $12.2 billion across several asset classes spanning 43 states.
About Inland Private Capital Corporation
Inland Private Capital Corporation (IPC), headquartered in Oak Brook, IL, is a member company of The Inland Real Estate Group of Companies, Inc., an industry-leading alternative investment management firm, with an investment focus spanning across a broad range of asset types. As of March 31, 2024, the firm had sponsored 315 private placement real estate offerings, with investments and developments in the multifamily, self-storage, hospitality, healthcare, student housing, retail, corporate office, senior living, and industrial sectors. Many of IPC’s offerings have been designed for investors seeking replacement property to complete an IRS Section 1031 exchange. IPC is recognized as a leading provider of securitized 1031 exchange opportunities, with assets under management (AUM) of more than $12.2 billion, which includes a diverse national footprint of properties, spanning 43 states across various sectors. Past performance is not indicative of future performance.
