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