CAPREIT Announces Acquisition of Coastal Village Student Apartments

200-Home Community Marks Company's First Venture into the Student Housing Sector

FORT MYERS, Fla., Feb. 20, 2025 /PRNewswire-PRWeb/ -- CAPREIT, a fully integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, announced today it has acquired Coastal Village, a 200-home, 800-bed student housing community in south Fort Myers.

Situated at 19401 Skidmore Way, Coastal Village sits within a quick commute of Florida Gulf Coast University, a Division I college attended by approximately 16,000 students. CAPREIT's acquisition of the off-campus community represents the company's entry into the student housing sector.

"Residents of student housing want all the same things that traditional apartment residents want—namely, superior property management and white-glove service," said Andrew Kadish, CEO of CAPREIT. "It's that kind of touch that CAPREIT can bring to Coastal Village and the student housing industry. The relatively consistent and reliable demand in the student housing sector, combined with our desire to secure steady returns and significant capital appreciation for our investors, gives CAPREIT the perfect opportunity to enter student housing."

With a portfolio mostly composed of market-rate and workforce apartments, CAPREIT has recently expanded into new verticals. Prior to joining the student space, the company entered the single-family, build-to-rent sector with the 2024 acquisition of Baldwin Chase in Greenville, S.C.

Coastal Village, originally built in 2004, is a pet-friendly community and offers fully furnished homes—each with four private bedrooms. Community amenities include an outdoor swimming pool, fire pit, resident lounge, coffee bar, private study spaces and an onsite fitness center. Apartment homes include upgraded kitchens with granite countertops and center islands, built-in desks in each room, full-size washers and dryers, central air conditioning and private patios or balconies.

In addition to the Florida Gulf Coast University campus, the community offers quick connectivity to the multitude of shopping options at Three Oaks Town Center and the vast recreational opportunities at Bonita Nature Place. Additionally, Florida SouthWestern State College is located 12 miles northwest of the community.

Media Contact
Stephen Ursery, CAPREIT, 1 303-682-3945, [email protected], https://www.capreit.com/

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SOURCE CAPREIT