Rockpoint and The Kolter Group Announce Joint Venture to Develop The Sutton in Palm Beach Gardens, Florida

PNC Bank provided financing for the five-story Class A apartment community planned for the 17.6-acre site

BOSTON and PALM BEACH GARDENS, Fla., July 2, 2026 /PRNewswire/ -- Rockpoint, a Boston-based real estate private equity firm, and The Kolter Group, a Florida-based diversified real estate development and investment firm, today announced that their affiliates have entered into a joint venture to develop The Sutton, a 432-unit multifamily apartment community in Palm Beach Gardens, Florida. The transaction includes the acquisition of the land and development of the site and PNC Bank provided the financing for the project.

The Sutton, which is scheduled to be completed in 2028, will comprise 432 studio, one-, two-, and three-bedroom apartments and surface parking. The site is centrally situated in Palm Beach Gardens with convenient access to I-95 and the Florida Turnpike, enabling regional connectivity to Palm Beach County's key employment and retail centers. Residents will benefit from proximity to nearby premier retail, dining, shopping and entertainment options, as well as convenient access to the coast and public beaches as well as public parks, premier golf courses, and recreation areas where residents can enjoy the outdoors.

"Rockpoint has been active in South Florida multifamily investing for more than a decade, and our selective development strategy allows us to focus on submarkets like Palm Beach Gardens that are highly supply constrained and have demand for newer vintage apartment living," said Dan Domb, a Managing Member and COO at Rockpoint. "We're excited to enter this partnership with the Kolter team to develop this unique property."

"Rockpoint's team is experienced and well-regarded, and their values and platform align well with Kolter's," said Howard Erbstein, COO of The Kolter Group. "It's a great foundation to capitalize on further investments together across our various businesses."

The property will feature best-in-class amenities, including a resort-style pool, state-of-the-art fitness and wellness spaces including a group fitness room, co-working rooms, resident lounge, dog park, children's playground, and a maker's studio. Unit interiors will feature high-quality finishes including stainless steel appliances, quartz countertops, and luxury vinyl tile flooring.

Rockpoint, along with its predecessor firm, has a longstanding history of investing in the residential sector and has closed on or committed to 146 residential investments since 1995, comprising approximately 100,000 multifamily units. The firm continues to strategically target opportunities in high-barrier-to-entry markets with strong demand drivers and where it can create value through active asset management and repositioning strategies.

About Rockpoint
Rockpoint is a real estate private equity firm that employs a fundamental value approach to investing, targeting select product types and markets throughout the United States. The firm applies a consistent and disciplined investment approach across its investment programs, which span distinct return profiles. Rockpoint continually assesses market opportunities and evaluates potential investments relative to intrinsic value, replacement cost, and cash flow, targeting investments that Rockpoint believes are inefficiently priced or misunderstood by the broader market. Rockpoint proactively pursues opportunities that exhibit strong value potential that can be realized through impactful asset management. Since 1994, the firm's co-founders with others have sponsored 19 investment vehicles and related co-investment vehicles through Rockpoint and a predecessor firm and have invested or committed to invest in 517 transactions with a total peak capitalization of approximately $83 billion. To learn more, visit www.rockpoint.com.

About The Kolter Group and Kolter Multifamily
The Kolter Group LLC (together with its affiliates, "Kolter"), based in Delray Beach, Florida, is a private investment firm focused on real estate development and investment. Led by CEO Robert "Bobby" Julien, Kolter operates four residential development business units and has sponsored over $40 billion of realized and in-process residential real estate projects throughout the Southeast United States.

Kolter Multifamily LLC (together with its affiliates, "Kolter Multifamily"), is focused on the acquisition and development of market-rate and affordable rental communities with proximity to employment and shopping. Kolter Multifamily focuses on urban and suburban rental communities that are strategically located to allow residents to enjoy the best of the surrounding area, with prime locations and on-site amenities that create enduring value. The Kolter Multifamily track record includes 23 multifamily communities representing $3.0 billion of realized and in-process project value.

Contacts

Rockpoint
Erik Carlson / Kate Kelley
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
[email protected]

SOURCE Rockpoint Group, L.L.C.