PORT ST. LUCIE, Fla.--(BUSINESS WIRE)--ACRE, a global real estate private equity firm, today announced it has officially begun leasing at Havens at Central Park, a high-quality, 158-unit single-family build-to-rent (BTR) development located in Port St. Lucie, Florida.
The project is being developed in partnership with Fort Lauderdale-based Stellar Communities. With construction underway, Havens at Central Park is scheduled to officially open in late Spring 2023.
Located 15 miles south of Fort Pierce within Verano - a newly developed, master-planned community - Havens at Central Park will feature a mix of one-, two- and three-bedroom residences, with an average size of 949 square feet. Unit interiors will feature best-in-class finishes and smart-home technology. Residents will have access to a full suite of high-quality amenities including a clubhouse, resort-style pool and fitness center.
“ACRE remains focused on identifying unique multifamily and single-family development opportunities in high-growth coastal markets across the Southeast,” said Bret Hewett, Vice President of Acquisitions for ACRE. “We’re very excited to partner with an accomplished firm in Stellar Communities to bring our vision for this development to life, and we're thrilled to expand our footprint to a region that continues to see robust economic growth and exceptionally strong demand for affordable high-quality apartments.”
Through a series of equity and debt funds, ACRE manages more than $3.2 billion in assets across private real estate investments and loans. The firm specializes in value-add, multifamily opportunities and invests in workforce and affordable housing assets in strategic growth markets. ACRE’s unique approach to managing its diverse portfolio of multifamily properties includes an intentional focus on creating added value for residents that extends beyond the four walls of their homes. By establishing a sense of community among residents through socially impactful investments and sustainable green measures, ACRE effectively improves tenant retention and generates stable, cash-flowing properties.
About ACRE
ACRE is a vertically integrated private equity firm specializing in commercial real estate through active investments in both direct equity and debt capital markets as well as special situation opportunities. ACRE manages a global portfolio in excess of $3.2 billion concentrated in U.S. multifamily with holdings in the United Kingdom and Southeast Asia through separate verticals. ACRE has offices in Atlanta, New York, and Singapore.
