Class A Multifamily Development | Central Florida
Penrose Point is a planned Class A / A- multifamily development located in Wildwood, Florida, immediately adjacent to The Villages—one of the fastest-growing population and employment centers in the United States.
The project is designed to address a documented shortage of modern rental housing serving the workforce that supports healthcare, retail, hospitality, and service demand generated by The Villages’ continued expansion.
Opportunity Overview
Asset Type: Class A / A- Workforce Multifamily
Scale: Approximately 248–252 units (1-, 2- and 3-bedroom layouts)
Total Development Cost: Approximately $52.8 million
Stabilized Value (Appraised): Approximately $63.6 million
Capital Structure: Construction financing complemented by phased investor equity
Investor Participation: Up to 70% ownership of the project entity
Market Fundamentals
High-Growth Corridor: Central Florida continues to experience sustained population and job growth.
Product Scarcity: The Villages is primarily composed of age-restricted and single-family housing, with limited Class A rental options for the local workforce.
Durable Demand Drivers: Hospitals, retail centers, restaurants, hospitality venues, and ongoing infrastructure development generate stable renter demand.
Development & Risk Management
Institutional Validation: Independent third-party appraisal and construction financing pre-approval.
Phased Capital Deployment: Investor capital is deployed through controlled escrow stages aligned with development milestones:
Land acquisition
Plans, permits, and pre-construction
Vertical construction
Professional Execution: Experienced development, construction, and property management team.
Indicative Investment Parameters (High-Level)
Indicative Minimum Investment:
Expected to begin in the range of $250,000, subject to final structuring, availability, and investor qualification.
Target Equity Multiple:
Approximately 21%–27% internal rate of return (IRR), depending on entry phase and market conditions.
Target Hold Period:
Approximately 5–6 years, including development, stabilization, and exit.
All figures are estimates only and subject to change.
Exit Strategy (Summary)
The anticipated exit strategy is the sale of the stabilized property and operating business to an institutional multifamily investor once net operating income (NOI) has been optimized. Exit timing will depend on prevailing market conditions and approval by the project’s majority equity holders.
Comparative Context (General)
Compared to core multifamily assets, the project targets higher potential returns associated with development-stage execution.
Compared to value-add acquisitions, the project is purpose-built with modern design and reduced long-term capital expenditure risk.
Compared to fixed-income alternatives, the project targets materially higher return potential with asset-backed real estate exposure.
Next Steps
Additional information, including detailed financial models and offering materials, is available only after execution of a Non-Disclosure Agreement (NDA) and subject to investor qualification.
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