MIAMI, FL - Mast Capital, Rockpoint and The Spear Group today announced the opening of Edera Palm Springs, the group’s newest highly amenitized rental residential community. The garden-style community features 264 apartments in the growing village of Palm Springs, Florida within West Palm Beach. Centrally located at 2085 South Congress Avenue, Edera Palm Springs is an upscale and walkable community that encompasses 11 three-story buildings with lush gardens and is just 15 minutes from downtown West Palm Beach.
To date, Edera Palm Springs is experiencing a strong lease up with approximately 60% of the community leased shortly after opening its doors to new residents.
“Our early lease-up success at Edera Palm Springs underscores the continued demand we are seeing from residents seeking a thoughtfully developed residential community, like Edera Palm Springs, that offers an elevated and modern design combined with well-appointed amenities,” said Camilo Miguel, Jr., CEO and Founder of Mast Capital. “Given that the Village of Palm Springs has seen a significant growth in population, there is pent-up demand for newly built luxury rental communities like ours that meet the higher standards of today’s discerning renters.”
Designed by MSA Architects, Edera Palm Springs offers a variety of apartment floor plans including one-bedroom, two-bedroom, and three-bedroom units ranging from 715 square feet to 1,215 square feet in size.
Residents will enjoy a variety of lifestyle-driven amenities including a stylish central clubhouse, an indoor-and-outdoor yoga area and fitness lawn, an expansive lake with a walking path, dog park, children’s playground, and a resort-style swimming pool with an array of cabanas and lounge chairs. Indoor amenities include co-working spaces and conference rooms, a game room with billiards and foosball, and a fitness studio with the latest cardio and weight training equipment. The luxurious residences feature high-quality finishes including wood cabinets, quartz countertops and stainless-steel appliances. The modern layouts include open living and dining spaces with Wi-Fi connectivity accessible throughout the home. Other onsite conveniences the property offers are smart parcel lockers, optional storage units, electric vehicle charging stations, and various lawn games available for resident use.
Palm Springs has seen the fastest population growth in Palm Beach County in recent years. The region’s growth and demand for rental housing is driven by the large number of new residents relocating to South Florida and seeking to live in highly desirable communities like the Village. The Edera Palm Springs community is proximate to the Palm Beach International Airport, numerous K-12 schools, shops and restaurants, several local parks, and the beach.
Mast Capital has emerged as one of Florida’s most active real estate development and investment firms today, with a diverse portfolio of residential, hospitality, and commercial properties throughout the State. These investments include ground up development of over 4,000 residential units in South Florida, as well as the Fort Myers and Tampa metro areas.
About Mast Capital: Founded in 2006, Mast Capital is a leading, vertically integrated real estate investment and development firm, driven by a global vision to transform communities and reshape the real estate landscape. By seamlessly blending innovative investment strategies with visionary design, Mast Capital has cultivated a diverse portfolio exceeding $4 billion in total project capitalization. As one of Florida’s most dynamic development firms, Mast Capital currently manages twelve active developments with a substantial future pipeline, spanning residential condominiums, multifamily developments, luxury hotels, commercial properties, operating businesses, and land designated for development. In nearly two decades, Mast Capital’s profound expertise and value-driven approach has uniquely positioned the firm to adeptly navigate market complexities and identify untapped investment opportunities. The firm's unwavering commitment to excellence and crafting timeless icons, has solidified its reputation as an industry pioneer, devoted to maximizing investment returns and ensuring the long-term success of each venture.For more information on Mast Capital’s portfolio, visit www.MastCapital.com
About Rockpoint: Rockpoint is a real estate private equity firm that employs a fundamental value approach to investing, targeting select product types and markets throughout the United States. The firm applies a consistent and disciplined investment approach across its investment programs, which span distinct return profiles. Rockpoint continually assesses market opportunities and evaluates potential investments relative to intrinsic value, replacement cost, and cash flow, targeting investments that Rockpoint believes are inefficiently priced or misunderstood by the broader market. Rockpoint proactively pursues opportunities that exhibit strong value potential that can be realized through impactful asset management. Since 1994, the firm’s co-founders with others have sponsored 19 investment vehicles and related co-investment vehicles through Rockpoint and a predecessor firm and have invested or committed to invest in 504 transactions with a total peak capitalization of approximately $80 billion. To learn more, visit www.rockpoint.com
About The Spear Group: The Spear Group is a private real estate investment and development firm with offices in South Florida and Massachusetts. The family owned and operated company was founded in 1966 in Massachusetts and has been active in South Florida since 1976. For over 50 years, The Spear Group has been a leader in developing residential communities, including single-family homes, townhomes, condominiums, and rental apartments, characterized by lasting quality, innovative design and sustainability. The Spear Group is a fully vertically integrated real estate firm capable of acting as developer, licensed general contractor, licensed sales broker, and accredited rental property manager. The multigenerational company is now led by partners Jeff Spear, David Spear, and Daniel Spear. The firm’s principals utilize their local market knowledge to identify undervalued assets and create value through development, redevelopment and property-level enhancements. For more information on The Spear Group, visit www.TheSpearGroup.com