CAPREIT Acquires 800-Bed Community Near Florida Gulf Coast University 

Fort Myers, Fla. — CAPREIT has acquired Coastal Village, an 800-bed student housing community located near the Florida Gulf Coast University campus in Fort Myers. The acquisition marks the North Bethesda, Maryland-based firm’s entrance into the student housing sector. Coastal Village was developed in 2004 at 19401 Skidmore Way and offers fully furnished units in four-bedroom configurations. Shared amenities include a pool, fire pit, resident lounge, coffee bar, private study spaces and a fitness center. “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,” says CEO Andrew Kadish. The seller and terms of the transaction were not released.