Sunday, May 7, 2017

Passco Companies Acquires Class A 260-Unit Multifamily Asset in Southwest Florida for $53.5 Million

Colin Gillis
                Estero, FL -- Passco Companies has acquired Springs at Estero, an institutional grade, Class A, 260-unit multifamily community in Southwest Florida for $53.5 million. The brand new, stabilized property is in the submarket of Estero within the Fort Myers / Cape Coral MSA.

“The acquisition of Springs at Estero, which we plan to rebrand as Longitude 81o, is reflective of our ongoing strategy to acquire core assets with long-term growth potential in dynamic markets across the Southeast,” says Colin Gillis, Vice President of Acquisitions for the Southeast at Passco Companies. 

“This is our fourth acquisition in Florida in the last 12 months. We continue to find exceptional investment opportunities throughout the state. We are especially excited to make our first acquisition in Southwest Florida, which is experiencing rapid economic expansion driven by explosive job and population growth.”

 For a complete copy of the company’s news release, please contact:

Lauren Burgos/ Lexi Astfalk
 Brower, Miller & Cole
 (949) 955-7940

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