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| Bella Rosa Apartments, Fort Myers, FL |
FORT MYERS, FL – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, announced the sale of Bella Rosa Apartments
and Park Place Apartments, two multifamily communities totaling 337
units located directly across the street from each other in Fort Myers, Fla.
The total $19.25 million sales price for the two investment
real estate properties equates to $57,122 per unit.
Michael
Regan and Frank Carriera, vice presidents investments in Marcus
& Millichap’s Tampa office, represented the seller and the buyer.
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| Park Place Apartments, Fort Myers, FL |
“The sale of these two assets speaks to the investor demand
we are experiencing in southwest Florida,” says Regan. “The properties provide
the new owner with the potential to add value through strategic upgrades and
capital infusions.”
“With a combined total of 281,780 rentable square feet,
these two commercial real estate assets give the buyer critical mass in a
thriving and growing market plus the ability to capitalize on the economy of
scale their proximity to one another provides,” adds Carriera.
Both properties are located on Deleon Street in Fort Myers,
Fla., less than one-tenth of a mile from Colonial Boulevard and U.S. Highway
41, which experience daily traffic counts of more than 49,000 and 57,000
vehicles per day, respectively.
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| Michael Regan |
Fort Myers Beach, Sanibel Island and Captiva Island are
nearby, as are major retail attractions such as Edison Mall, Royal Palm Place,
Bell Tower Shops, Gulf Coast Town Center, Coconut Point mall and Miromar
Outlets.
Built in 1979, Bella Rosa Apartments is a 160-unit,
123,780-rentable-square-foot complex located at 4615-4775 Deleon St. The
complex consists of 12 two-story residential buildings and a one-story
clubhouse.
Amenities include two on-site laundry facilities, a fitness
center, a playground, a dog walking area, picnic/barbecue grilling areas, a
business center, clubhouse and a swimming pool. Apartments have private
screened-in balconies or patios depending on floor level.
Park Place Apartments is a 177-unit, 158,000-rentable-square
foot apartment community located at 4620-4666 Deleon St. It was built in 1973.
The property features 13 two-story residential buildings. Community amenities
include an on-site laundry facility, fitness center, playground,
picnic/barbecue grilling areas and two swimming pools.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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