The year 2024 has ushered in a whirlwind of achievements for the aTeam, and we couldn’t be more thrilled to share the exciting developments taking place at aDoor. Our dedication to land development and build-for-rent projects is not just about construction; it’s about crafting communities where families thrive and dreams take shape.
New Home Construction in Spanish Fort, AL
Land Development Milestones:
In Milton, FL, we recently acquired a fully entitled piece of land destined for transformation into a vibrant 54-lot subdivision. Meanwhile, in Cantonment, FL, ground has been broken on a 65-lot townhome subdivision, signaling the beginning of another promising endeavor. Progress on our 308-townhome lot subdivision in Gulf Breeze, FL, is ahead of pace, with Phase 1 set for completion by year-end. Moreover, two subdivisions nearing completion are set to provide finished lots to D.R. Horton, solidifying our commitment to collaborative success. Looking ahead, our sights are set on breaking ground on an additional 550 lots, further expanding our footprint in the region.
Build-for-Rent Success Stories:
At Dixon Preserve in Pace, FL, our 105-unit BFR community has achieved an impressive 90% occupancy rate, thanks to the dedicated efforts of our aDoor Property Management, LLC team. As we prepare to transition from bridge financing to permanent debt, our investors can anticipate steady monthly distributions, a testament to our commitment to long-term value creation. Additionally, exciting posibilities are on the horizon, including the upcoming start of a 60-unit BFR townhome community in West Pensacola and the acquisition of Fallingwater, a 141-unit DR Horton BFR community in Spanish Fort, AL, in collaboration with our esteemed partners at 68 Ventures. Notably, negotiations are underway for another 65 BFR units near the University of West Florida, underscoring our proactive approach to identifying lucrative opportunities.
Looking Ahead:
As we navigate the dynamic landscape of real estate development, 2024 promises to be a monumental year for the aTeam. If you’re keen on learning more about our projects and investment prospects, don’t hesitate to reach out. Let’s connect and explore the possibilities together!
