13th Floor Investments, in partnership with Wexford Capital, acquired a 6.6-acre development site within the newly incorporated Village of Estero, Florida (2014) in August 2017. Since closing, the joint venture successfully delivered The Reserve at Coconut Point, a 180-unit, surface-parked, garden-style community. It is the only multifamily rental property within the highly-desirable Coconut Point Development of Regional Impact (DRI), complementing the 500-acre master planned, mixed-use property's retail, office and hotel components. Coconut Point boasts more than one million square feet of vibrant and experiential retail space, 30,000 square feet of office, condominiums, and Hyatt and Marriott hotels onsite. The area is also home to the new Hertz World Headquarters.

With no additional approved market-rental apartments within the Coconut Point DRI, the project has a sustainable competitive advantage given the area's challenging entitlement and approval process.