MIAMI – October 27, 2022
South Florida Real Estate Firm PointOne Holdings has launched the development of two luxury multifamily residential communities: The Palm of Vistera and The Iris of Vistera, both located in Venice, Sarasota County Florida, The properties will be minutes away from 80 businesses in the adjacent business parks, a new 500 employee Sarasota Medical Hospital Campus, a new major Amazon Distribution Center and and less than a mile away from I-75, and 12 minutes from Florida’s most beautiful beaches.
The Palm of Vistera is a 337-unit, surface-parked, garden-style multifamily development project composed of two 4-story elevator serviced buildings and 36 townhome rental units. Average unit size at the community will be an ample 1,090 square feet with a unit mix featuring larger den units, more 3 bedrooms and townhomes and no studios. The Palm will target a slightly more mature demographic of empty nesters and families who value close proximity to daily conveniences, jobs and grocery. The project is inspired by exclusive resort and country club spaces and its amenities will feature elegant fixtures with deep contrasting color tones and textiles.
The Iris of Vistera is a 329-unit, surface-parked, garden-style multifamily development project composed of two 4-story elevator serviced buildings and 12 for-rent townhomes. The Iris is targeted to a younger demographic with a unit mix skewed towards one bedrooms with dens and an even distribution across most other unit types. In addition, The Iris of Vistera will feature more age-specific fitness and resident centers, community workspaces and top-of-market outdoor amenities.
The Palm and Iris of Vistera Apartments are the third and fourth multifamily development projects in the $155 million POH 9 Portfolio capital raise.
“We are excited to build these two best-in-market multifamily communities in the west coast of Florida” said Leo Peicher, PointOne Holdings’ Managing Partner. “The current inflationary environment and substantial increase in mortgage rates, combined with a lack of affordability, and limited housing supply, has created outstanding fundamentals for rental housing demand. We believe that the Vistera communities will not only help the submarket by delivering state of the art rental product but will also greatly benefit from the aforementioned economic tailwinds.”
Construction is starting soon with first units delivering in Q3 of 2024.
PointOne Holdings is a real estate investment firm headquartered in South Florida and Atlanta with properties located throughout the Southeastern United States, Texas, Virginia, and Colorado. The firm owns and manages a diversified portfolio of residential and commercial assets valued in excess of $1.7 billion. PointOne Holdings’ core principles are founded on precise investment selection, thorough due diligence, creative deal structuring, strong financial management and proactive and responsive communication. For more information visit www.pointoneholdings.com