ATLANTA, GA - Brook Farm Group, together with its co-development partner, Rail Gauge Partners, LLC, recently broke ground on The Sinclair at Palm Pointe, a 265-unit, Class A multifamily development at 5000-5003 Palm Point Court in Fort Myers, FL.
The development team acquired the shovel-ready site with all necessary zoning, parking and infrastructure approvals in place, allowing the team to bring units to the market by early 2026.
“We are excited to begin construction on this unique in-fill multifamily development,” said Peter DiCorpo, Chief Operating Officer, Brook Farm Group. “The Sinclair at Palm Pointe will become an important residential anchor for this established retail corridor and provide a modern, amenity-rich community for renters working in the area’s growing employment corridors.”
The development is on an 8.5-acre infill site in a desirable, established neighborhood along the US-41 corridor. It is located within an existing retail center in a fast-growing section of the Cape Coral – Fort Myers MSA and is within walking distance of restaurants and retail establishments. The community will include two, four-story buildings with elevator service and 467 parking spaces. The units will average 909 square feet.
“This is an incredible opportunity to acquire a well located, in-fill site along the primary retail corridor in the rapidly growing Fort Myers market,” said Eric Hade, Brook Farm’s Chief Investment Officer. “With comparatively fewer construction starts in the Fort Myers area during 2024, we expect limited competition when the property is ready for leasing in 2026.”
Details of the project:
- The development offers direct access to downtown Fort Myers as well as Cape Coral and Estero and is a short drive to the Southwest Florida International Airport.
- The city of Fort Myers has experienced 43% population growth since 2010 and is expected to expand further through 2027.
- Renters will have access to nearby retail amenities, such as Starbucks, Dunkin’, Zaxby’s and FedEx. Larger retailers such as Target, Sam’s Club, Trader Joes and Publix are within a few miles of the site.
- The development site also offers proximity to Lee Health, a top-rated healthcare system and the largest employer in Southwest Florida.
About Brook Farm Group: Brook Farm Group is a boutique multifamily investment and development firm focused on cultivating capital and creating vibrant communities in dynamic markets throughout the Sunbelt and Mountain states. The firm focuses on markets with strong business climates that support long-term job creation and dynamic housing opportunities. Founders Peter DiCorpo and Eric Hade leverage a combined 50+ years of experience in multi-family development, acquisitions, joint ventures, investment and asset management across more than 40,000 units and $10 billion of real estate. The firm is based in Atlanta and is backed by private capital sources that are committed to supporting a vision for creating long-term value for investment partners and long-term appeal for residents. See www.brookfarmgrp.com for more information.
About Rail Gauge Partners: Based in Atlanta, Rail Gauge Partners is one of the Southeast’s premier real estate investment groups. The company focuses on acquiring and developing well-located multifamily communities in supply constrained growth markets to maximize ROI. Through proactive management, redevelopment, and targeted market selections, we strive to generate attractive, risk-adjusted returns. Since 2010, including previous transactions in roles at Mesa Capital Partners and Kushner Companies, our team has executed on the acquisition, development, and sale of over 36,000 units representing over $5 billion in multifamily transactions. With a proven track record of implementing successful acquisition and development strategies, Rail Gauge Partners is driven to help clients continue to find the best solutions that meet their real estate investment goals.