On behalf of Ambling Property Investments (the “Developer”),
Capstone is pleased to present a Preferred Equity financing opportunity to
support the development of Madison at Owl’s Head ("Owl's Head").
Owl’s Head is a to-be-built, 300-unit, 3-story surface-parked development along
US-331 (17,000+ VPD) in Freeport, FL (Fort Walton MSA). This Class A community will
feature luxurious modern interiors and top-of-the-line amenities.
The site benefits from direct access to downtown Freeport
via US-331, which features the areas grocers, schools, restaurants, and local
and national retailers. Additionally, the site provides convenient drive times
to multiple popular beach destinations along the Florida panhandle, spanning
from Fort Walton Beach to Rosemary Beach, including Destin, Miramar Beach, and
Seaside. These areas not only provide recreational benefits for future
residents, but they also provide ever growing employment opportunities to
benefit from. Freeport has been one of the fastest growing areas in the Fort
Walton market, and job growth over the past five years has greatly outperformed
the national average, contributing to the region's high population growth
rates. Thus, the need for housing has significantly increased, but only 288
units (3.2% of inventory) are currently under construction or proposed in the
entire Fort Walton market, while 12-month absorption was a healthy 3.7% of
inventory. The Owl’s Head site provides an excellent opportunity to fund a
development in a growing, stable employment market with strong above average
population growth.
Shovel-Ready Multi-Family Development Site
Conveniently Located Near Retail, Recreation, and Employment
Opportunities
Proximate to Eglin Air Force Base
Recent Lease-Up Success at Nearby Development