Encore Multifamily Secures $48.7 Million HUD Loan for Fort Myers Development

FORT MYERS, Fla.--(BUSINESS WIRE)--Encore Multifamily, a division of Dallas-based Encore Enterprises, secured a $48,727,600 fixed-rate HUD Section 221(d)(4) loan for its Encore Daniels Falls development, a class-A multifamily ground-up apartment community located in Fort Myers, Fla. The 240-unit, 6.73-acre project broke ground Dec. 16, 2024, and is projected to deliver 224,050 square feet of rentable space in a strategic location with robust demand by Q32026. Between 2021 and 2022 alone, the Fort Myers population grew 4.73%, with its median household income increasing by 11.1%.

"Successfully navigating a challenging lending environment to secure favorable rates during a volatile period is no small feat, and a true testament to the levels of mastery within our team,” said Charlie Keels, president of Encore Multifamily. “By aligning the delivery of Encore Daniels Falls with Fort Myers' evolving supply and demand dynamics, the project is positioned to meet the needs of the community at just the right time."

Encore Daniels Falls will offer studio, one-, two- and three-bedroom units in a modern, five-story urban-style building. Luxury amenities will include a clubhouse, fitness center, business center, pool, firepit, dog wash, dog park, outdoor lounging and a 24-hour package room. Its premium Daniels Parkway location is 1.5 miles from I-75 and 4.5 miles from South Florida International Airport.

About Encore Multifamily

Established in 2008, Encore Multi-Family, LLC (Encore Multifamily), a wholly owned subsidiary of Dallas-based Encore Enterprises, Inc., is a full-scale multifamily developer focused on both ground-up developments and value-add acquisitions in mixed-use and urban infill communities. Since its inception, Encore Multifamily has transacted 49 deals representing approximately $2 billion in assets. Its dedicated team of sector experts has overseen the acquisition, repositioning and development of more than 10,000 multifamily units.