CHICAGO–(BUSINESS WIRE)–Blue Vista Capital Management announced the close of its acquisition of the Keys at Wildwood, a 190-unit “horizontal” build-to-rent development located in Oxford, Florida. The project is being constructed in partnership with Belleair Development and Mize & Sefair Development. The new community is the sixth built-to-rent community Blue Vista has acquired / developed since 2020 as part of its middle market real estate strategy.
The Keys of Wildwood community is being developed on approximately 19 acres and upon completion will consist of 190 duplex single-story cottage-style rental units offering residents the look and feel of a private, amenitized single family home. Each unit will offer an open floorplan with a full dining, kitchen and living area with high-end finishes, in-unit laundry, private patios, and dedicated parking spots. All units will feature three bedrooms and two bathrooms.
The community is in an exceptionally unique location adjacent to the Villages, the nation’s largest 55 and over master planned for-sale community with over 139,000 residents. Since 2010, the population within the Villages MSA has grown by nearly 50%, making it one of the fastest growing metro areas in the United States over the past decade and the fastest-growing zip-code in America. The Villages produces significant demand drivers, anchored by over 1.1 million square feet of retail within a 3-mile radius, including grocery stores, shopping centers, and various restaurants and dining options. Additionally, the Villages has a dedicated University of Florida-affiliated hospital and medical center and a school for Villages employees. The project represents an attractive rental option for individuals and families who work in these dedicated venues.
“We believe that build-to-rent communities like the Keys at Wildwood have distinct competitive advantages over traditional multistory apartment communities in that they offer residents a rental option that looks and feels like a private, single-family home. The community will offer individuals and families a unique, attainable rental housing in a market facing an undersupply of viable options,” said George Stellas, Vice President, Acquisitions at Blue Vista.
“Specific to this project, the Villages’ scale generates a unique micro-market requiring many jobs and service workers. We believe the Keys at Wildwood will benefit from this demand given the well-positioned rental rates relative to other newly delivered, class A competitive rental communities,” said Matthew Schoaf, Principal, Acquisitions at Blue Vista.
ABOUT BLUE VISTA
Blue Vista is a leading investment management firm focused on helping investors maximize returns through best-in-class real estate equity and credit strategies across the risk-return spectrum. Blue Vista offers investors the benefits of a vertically integrated platform, complementary strategies managed by experienced teams, and deep expertise as an owner, operator and lender across all property types and various markets in the U.S. and Canada. Since its inception in 2002, the firm has invested over $13.0 billion in total capitalization, with the goal of challenging the status quo, setting high standards and bringing a relationship-based, client-focused approach to real estate investing. For more information, please visit https://bluevistallc.com/.