Rockpoint and The Kolter Group Form Joint Venture to Develop The Sutton Four Hundred Thirty Two Unit Community in Palm Beach Gardens

Rockpoint and The Kolter Group have formed a joint venture to develop The Sutton, a 432-unit multifamily community in Palm Beach Gardens, Florida. The transaction covers acquisition of the site and its development, with PNC Bank providing financing for the project.

Scheduled for completion in 2028, The Sutton will include 432 studio, one-, two-, and three-bedroom apartments and surface parking. The property is centrally located with access to I-95 and the Florida Turnpike, offering regional connectivity to Palm Beach County employment and retail centers. Residents will have proximity to retail, dining, entertainment, public beaches, parks, premier golf courses, and recreation areas.

The development will deliver a suite of resident amenities including a resort-style pool, state-of-the-art fitness and wellness spaces with a group fitness room, co-working rooms, a resident lounge, dog park, children’s playground, and a maker’s studio. Unit interiors will feature stainless steel appliances, quartz countertops, and luxury vinyl tile flooring.

“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.

“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.

Rockpoint and its predecessor firm report a long history in the residential sector, having closed on or committed to 146 residential investments since 1995, comprising approximately 100,000 multifamily units. The firm continues to target opportunities in high-barrier-to-entry markets where active asset management and repositioning can create value.

This transaction highlights ongoing industry activity where institutional capital and regional developers align to deliver amenity-forward product in supply-constrained submarkets. Multifamily Leadership will continue to track developments that reflect capital deployment, product design, and market selection trends shaping multifamily investment and development.