Top Owners of Single Family Homes in Lee County, Florida

Disclosure: Jeff Tumbarello, Director of SWFL REIA, Broker/Co-Owner of Steelbridge Realty, and Principal at Venture Investment Partners, compiled and analyzed this analysis. This is my work, done for me and shared with you. Datawork done 8/21/2024

Top Owners of Single Family Homes in Lee County, Florida

Lee County, Florida, has become a prime destination for investment in single-family homes. The ownership of these homes is concentrated among several key players, ranging from large corporations to local investors. Below, we explore the top owners of single-family homes in Lee County, detailing the number of properties they own, their parent companies, and their impact on the local housing market.

1. UNKNOWN HEIRS OF – 727 Properties
   • Parent Company: Probate
     Leading the list with 727 single-family homes is the “Unknown Heirs Of,” which typically includes properties involved in probate cases or ownership disputes. These homes are often tied up in legal processes, affecting their availability in the market and contributing to the number of vacant or underutilized properties in the county. This is an opportunity as well.
2. UPWARD AMERICA SOUTHEAST PROPE – 406 Properties
   • Parent Company: Lennar
     UPWARD AMERICA SOUTHEAST PROPE, backed by the homebuilding giant Lennar, owns 406 single-family homes. Lennar’s strategic investments in residential properties across Lee County reflect the company’s commitment to meeting the rising demand for housing in the area. A few years back Lennar referenced BTR Investment in their 10k Filing. We guess they meant it. This also shows any ability to retain excess inventory in a downturn. Lennar has a long history of savvy business decisions. This is another one.
3. FKH SFR C1 L P – 249 Properties
   • Parent Company: FirstKey Homes
     FKH SFR C1 L P, under the management of FirstKey Homes, holds 249 properties. FirstKey Homes is known for its focus on single-family rentals, making them a significant player in the growing rental market in Lee County.
4. PROGRESS RESIDENTIAL BORROWER – 242 Properties
   • Parent Company: Progress Residential
     Progress Residential, owning 242 single-family homes, is a major name in the rental housing market. Their extensive portfolio in Lee County positions them as a key provider of quality rental homes, catering to the needs of a diverse range of tenants.
5. CSMA FT LLC – 211 Properties
   • Parent Company: FirstKey Homes
     CSMA FT LLC, with 211 homes, is another entity managed by FirstKey Homes. This further emphasizes FirstKey Homes’ strong presence in the county’s single-family rental market, solidifying its role as a major investor in the region.
6. FKH SFR PROPCO B HLD LP – 175 Properties
   • Parent Company: FirstKey Homes
     FKH SFR PROPCO B HLD LP holds 175 properties and is also part of the FirstKey Homes portfolio. Their investments are aimed at long-term management and rental of these properties, contributing to the stability and growth of the local housing market.
7. FKH SFR PROPCO A LP – 161 Properties
   • Parent Company: FirstKey Homes
     Another significant player from the FirstKey Homes group, FKH SFR PROPCO A LP owns 161 single-family homes. The continued presence of FirstKey entities in the top owners list highlights their deep investment in Lee County.
8. CORONA PROPERTY HOLDINGS LLC – 141 Properties
   • Parent Company: Cape Coral Based Investors!
     CORONA PROPERTY HOLDINGS LLC, owned by local investors based in Cape Coral, holds 141 single-family homes. This local ownership emphasizes the interest and involvement of regional investors in shaping the housing market in Lee County.
9. ALTO ASSET COMPANY 5 LLC – 118 Properties
   • Parent Company: The Amherst Group LLC
     ALTO ASSET COMPANY 5 LLC, under the management of The Amherst Group LLC, owns 118 properties. The Amherst Group is known for its large-scale investments in residential real estate, making them a significant influence in the county’s housing sector.
10. FYR SFR BORROWER LLC – 108 Properties
    • Parent Company: Progress Residential
      FYR SFR BORROWER LLC, holding 108 homes, is another entity under Progress Residential. Their focus on single-family rentals aligns with broader market trends, contributing to the availability of quality rental housing in the region.
11. FKH SFR PROPCO I L P – 107 Properties
    • Parent Company: Progress Residential
      FKH SFR PROPCO I L P is another entity managed by Progress Residential, with 107 properties. Their involvement further strengthens the influence of Progress Residential in the Lee County market.
12. SERENA PARK LLC – 101 Properties
    • Parent Company: Based out of Davenport, ID
      SERENA PARK LLC, based out of Davenport, Idaho, owns 101 single-family homes. Their investments in Lee County highlight the attractiveness of the region to out-of-state investors.
13. FKH SFR PROPCO H L P – 97 Properties
    • Parent Company: FirstKey Homes
      FKH SFR PROPCO H L P, part of the FirstKey Homes group, owns 97 properties. This entity’s presence further solidifies FirstKey Homes as a dominant force in the local single-family rental market.
14. MCH SFR PROPERTY OWNER 4 LLC – 94 Properties
    • Parent Company: KKR Asia Real Estate Partners
      Rounding out the list is MCH SFR PROPERTY OWNER 4 LLC, with 94 properties, under the management of KKR Asia Real Estate Partners. Their investments underscore the global interest in Lee County’s growing real estate market.

Conclusion

The top owners of single-family homes in Lee County, Florida, represent a mix of large corporations and local investors, all of whom play a vital role in shaping the region’s housing market. These entities, with their extensive property portfolios, significantly influence the availability and affordability of housing in the area. As the market continues to evolve, the strategies and investments of these key players will be crucial in determining the future landscape of single-family homes in Lee County.

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