Cameratta Companies and Real Capital Solutions Announce Plans to Build First Street Village Mixed Use Condo Project in River District of Fort Myers

FORT MYERS, Florida 10 November 2010— Cameratta Companies, an industry leader in real estate development for over twenty-nine years, is once again teaming up with Colorado based Real Capital Solutions, one of the nation’s most experienced, well-capitalized real estate investment companies, to move forward with new plans of First Street Village, a mixed use development project located in “Uptown” Fort Myers. RCS and Cameratta recently teamed up to purchase the remaining units at the nearby luxury High Point Place condominium development.

“We are excited to once again collaborate with a respected and successful company such as Real Capital Solutions,” said Joe Cameratta of Cameratta Companies. “Our combined efforts will contribute to make First Street Village the premiere destination for the ultimate shopping, entertainment, and upscale cosmopolitan experience in the Fort Myers River District.”

Situated in the historic River District of Fort Myers, First Street Village features an alluring offering of luxurious condominiums, and upscale retail, restaurants and a Publix Supermarket, surrounded by breathtaking scenery in an urban setting. In addition to the existing 4 residential townhomes, Publix Supermarket and approximately 20,000 square feet of existing boutique retail including First Watch Restaurant, We Scream For Ice Cream, Platinum Image Spa & Salon, and Subway, new plans call for 200 additional residences located within 4 separate buildings and approximately 30,000 square feet of additional retail.  Residences will be available starting at $149,900. From granite kitchen countertops to a master bath that evokes elegance, each interior provides residents with a comfortable, soothing atmosphere. The upscale urban experience that defines First Street Village includes first-class amenities such as a resort style pool and spa, an oversized state-of the art fitness center, club room, as well as lavish courtyards and landscaping.  Pre-construction residences at First Street Village will be available for reservation November 12, 2010 with a $2,500 fully-refundable deposit.  Prospective purchasers with existing homes to sell can reserve today, for a unit delivery in mid 2011, to take advantage of pre-construction/ pre-season pricing and low interest rate financing.

“With Cameratta’s already proving High Point Place to be a success, we feel the demand is there to move forward with First Street Village, said Marcel Arsenault of Real Capital Solutions. “Other than High Point Place, there are very few, if any, new condos available in “uptown” Fort Myers at a price point we are offering at First Street Village.”

Cameratta Companies, LLC is a full-service, leading real estate development company and a pioneer in the real estate industry. With more than 29 years of experience, the Cameratta organization has successfully developed thousands of acres of raw land into masterfully designed communities including single family and multi-family residential communities, high-rise condos and golf course communities. From humble beginnings in the early 1980s, to national recognition for quality design and development today, Cameratta Companies is noted for helping to rejuvenate the River District in Downtown Fort Myers with its signature real estate projects, High Point Place and First Street Village.

Real Capital Solutions has caught the attention of many in the industry after calling the market crash in 2006 and going to cash. The company sold nearly $300 million of the firm’s apartment, retail and office investments throughout the United States — about 80% of the company’s 140 properties. As of year-end 2009, with cash in hand when cash is king, the company has acquired $155 million of residential projects in Arizona, Florida and Colorado. RCS is now targeting an additional $500 million to recover value lost in non-performing assets and in distressed markets across the country through its three focused initiatives: Condo Capital Solutions, Homebuilder Capital Solutions, and Apartment Capital Solutions.