JBM Closes on $265MM Worth of Class-A Multifamily in Fort Myers
ST. PETERSBURG, Fla., March 14, 2022 /PRNewswire/ -- JBM® Institutional Multifamily Advisors completes the closing of three additional multifamily properties in Fort Myers, Florida – continuing their domination in the region. In total, the three transactions represent more than $265 million in multifamily sales and 775 units.
Las Palmas
This 300-unit, Class-A garden-style trophy asset was completed in 2021 by national developer – The NRP Group. Established in 1994, The NRP Group has developed over 40,000 residential units across 15 states. They are ranked as NMHC's #5 Largest Developer for 2021. Las Palmas offers top of the line amenities, including home office space, a state-of-the-art fitness center, two resort-style saltwater pools, a volleyball court, and unique townhome-style units with attached two-car garages. Units feature espresso flat-panel cabinets, LVT flooring, and kitchen islands with maple white quartz countertops. The property was purchased by PassiveInvesting.com – representing their largest acquisition to date. At the time of sale, this represented the largest price per unit transaction in Lee County.
Drift at The Forum
This 195-unit, elevator-serviced, mid-rise property was developed by The Garrett Companies and was completed in 2021. Also a Class-A product, the property features a resort-style pool with shaded cabanas, a massive 1,500 sq. ft. fitness center, a theater room, arcade, and putting green. The property is located adjacent to The Forum shopping center – a Target-anchored power center. Miami-based Momentum Real Estate Partners purchased the deal.
Estero Oaks
Completed in 2017, this 280-unit, Class-A garden product features concrete block construction with concrete tile roofs, a central, pristine lake with surrounding lakeside jogging path, and a two-story clubhouse with rentable office space. Estero Oaks is centrally located – within just two miles is the Gulf Coast Town Center, Miromar Outlets, and Florida Gulf Coast University. The property is flanked by future developments, including a new Dunkin Donuts, daycare facility, and a 40,000 sq. ft. proton therapy medical center, all of which are to commence construction in 2022.
About JBM®
JBM® Institutional Multifamily Advisors is the #1 ranked boutique multifamily brokerage firm in the nation. They are Florida's leading Class-A and merchant development broker. JBM® holds an astounding 70% market share in Southwest Florida over the last 20+ years.
JBM® has $16.5+ Billion in transaction multifamily sales throughout Florida.
SOURCE JBM Institutional Multifamily Advisors
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