Inland Fully Subscribes $54M Florida Build-to-Rent DST
Inland Private Capital Corporation (IPC) has completed a capital raise of more than $54 million for the private investment offering of Fort Myers BTR DST, an IPC-sponsored Delaware statutory trust. The DST owns the Odyssey on Soltura, a new Class A, build-to-rent single-family rental community in Fort Myers, FL. The offering was fully subscribed and is now closed.
The property is comprised of 129 units across 20 villa-style buildings and 89 free-standing residential homes.
“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,” said Nati Kiferbaum, SVP – head of investment product strategy for IPC.
IPC’s current BTR portfolio includes over $1.19 billion in assets under management. The portfolio consists of 18 properties in Alabama (1), Arizona (13), Colorado (1), and Florida (3), totaling 3,671 units. As of June 30, 2024, IPC’s multifamily portfolio, which includes BTR assets, totaled more than $4.6 billion.
In Florida, IPC has a strong multifamily presence (including BTR assets), managing 21 buildings totaling 5,810 units across the state.
Oakbrook, IL-based 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. Currently, IPC manages a portfolio of more than $12.2 billion across several asset classes spanning 43 states.
Pictured: Odyssey on Soltura
