NAPLES, Fla., Dec. 16, 2022 /PRNewswire/ — JBM® Institutional Multifamily Advisors continues to close deals in Southwest Florida. This time, they brokered the sale of Versol – a 2020-built, Class A+, 240-unit luxury multifamily community in Bonita Springs, Florida. The Property sold for $87,250,000 or $363,542 per unit. The seller was TerraCap Management, a privately held investment manager headquartered locally in Naples, Florida. This marks the 2nd time in the last two years that JBM® has sold the Property.
JBM® Chairman & CEO, Jamie May, comments, “Versol is such a beautiful deal with a strong location. Ideally situated between Fort Myers and Naples, Bonita Springs is a strong sub-market that continues to grow and demonstrate unbelievable income demographics. Congratulations to both buyer and seller on a smooth transaction.”
About the Property
The Property site is 27.35 acres +/- consisting of 240 units averaging 1,094 square feet, yielding an extremely desirable low-density of just 8.78 units per acre. The Property features concrete block construction, with both two and four-story buildings (four-story buildings are elevator serviced).
Their ultra-modern amenity package features a resort-style pool with sun shelf; coastal-style clubhouse; 24-hour, state-of-the-art fitness center with True Fitness equipment and a spin/yoga room; outdoor summer kitchen; bocce ball court; Amazon Hub package lockers; and rentable storage units and garages.
Units feature quartz countertops; chef-inspired signature kitchens with GE stainless steel appliances, 42″ shaker-style cabinets, subway tile backsplash, and extra-large undermount sinks; luxury faux wood plank flooring in living areas; and private, screened-in balconies/patios.
Acting as the suburban hub to high income earners for both Naples and Fort Myers, Bonita Springs has seen explosive growth in recent years (46% since 2010). The Property is just 3 miles to Barefoot Beach and within 5 miles of two major hospitals. Notable 5-mile demographics include average household income of $117K and an average net worth of $2.2 million.
JBM® is the #1 ranked boutique brokerage firm in the U.S.A. and has dominated the Southwest Florida market for the last 20+ years with a greater than 70% market share. Despite only transacting in Florida, Green Street and Real Estate Alert rank JBM® #1 for Highest Average Sold Price achieved in the U.S.A. and the #12 multifamily broker by total sales volume. JBM® has a lifetime sales volume over $18.7 billion and sold over 166,000 units.
SOURCE JBM Institutional Multifamily Advisors
Jamie May and his team at JBM® Institutional Multifamily Advisors focus exclusively on multifamily asset disposition services, equity placement, capitalization, and recapitalization of new merchant developments, value-add properties, and existing opportunities of large apartment type portfolios and singular assets for domestic and foreign institutional, private national, and regional clientele.