CAPREIT, a fully integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, announced it has acquired Coastal Village, a 200-home, 800-bed student housing community in south Fort Myers.
“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.
As one of the nation’s leading housing companies since its inception in 1993, CAPREIT has
been involved in more than 200 multifamily communities, representing more than 40,000 rental homes housing more than 100,000 residents. CAPREIT focuses on the implementation of a savvy acquisition strategy, innovative financial structures, and a professional property management style based on resident satisfaction and retention, as well as asset preservation and enhancement. Today, CAPREIT maintains its mission to create value-added growth through strategic acquisitions, continuing to capitalize on multifamily housing opportunities. The company currently owns and/or manages approximately 12,000 apartment units in over 20 U.S. states and is actively seeking to grow its multifamily footprint throughout the continental United States.
