JBM Brokers the Sale of Charlotte Commons in Port Charlotte, FL

News provided by

JBM Institutional Multifamily Advisors

Feb 14, 2024, 13:45 ET

NAPLES, Fla., Feb. 14, 2024 /PRNewswire/ -- JBM^® Institutional Multifamily Advisors is pleased to announce the sale of another Southwest Florida multifamily property – Charlotte Commons for $66,500,000 or $251,894/unit. The buyer was a New York operator together with Image Capital and the seller was SC Bodner Company.

SC Bodner is an award-winning, development, construction, and property management company that specializes in Class A multifamily residential developments. Headquartered in prestigious Carmel, IN, SC Bodner draws upon three generations of development expertise going back to 1924.

JBM Brokers the Sale of Charlotte Commons in Port Charlotte, FL

About Charlotte Commons

Charlotte Commons is a class A+, institutional grade, trophy asset. The Property is comprised of eleven, three-story, concrete block residential buildings with 264 units averaging 846 SF. It was built in 2022 and sits on 16.1 acres +/-.

Amenities

Some of the notable amenities include a resort-style pool with an expansive sun deck, grilling stations, shaded outdoor lounge area, a state-of-the-art fitness center complete with a yoga and cycling studio, Echelon bikes and Reflect Smart Mirror, an ultra-modern clubhouse with business center, bark park, pickleball courts, and more. There are also 57 garages available for rent at the Property.

Unit Features

Units are comprised of studio, one, two, and three bedrooms and feature chef-inspired signature kitchens with quartz countertops, tile backsplash, 42" shaker-style white cabinetry, and energy-efficient, stainless-steel appliances. Units also feature luxury, faux wood plank flooring throughout, spa-inspired signature bathrooms, Schlage keyless entry locks, and large sliding glass doors leading to private screened-in balconies and patios.

Location

Charlotte Commons is exceptionally well-located with visibility and connectivity from I-75, Kings Highway, and Veterans Boulevard. The Property is centrally located between Fort Myers and Sarasota. Peachland Promenade shopping center and Harold Avenue Regional Park Recreation Center are both less than half a mile away. Other noteworthy location highlights include the Port Charlotte Town Center (5.8 miles away) and HCA Florida Fawcett Hospital (3.5 miles away).

About JBM^®

JBM^® holds a 70%+ market share across Southwest Florida and is the #1 ranked boutique brokerage firm in the U.S.A. despite only transacting in Florida. Green Street's 2023 national multifamily broker rankings ranks JBM^® as the #1 highest average sold price per transaction throughout the entire U.S.A. and #1 highest average sales price per unit throughout Florida ($320K/unit). JBM® has a lifetime transactions volume over $19.4 billion and 169,000 units.