PR Newswire

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.

JBM® has $16.5 Billion+ in transaction multifamily sales throughout Florida.

About JBM®

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.

In the trailing 60-month period, JBM® has achieved over 102% average strike vs. sold pricing for all listings.

JBM® has $16.5 Billion+ in transaction multifamily sales in the state of Florida.