NAPLES, Fla., July 15, 2024 /PRNewswire/ — JBM® Institutional Multifamily Advisors is pleased to announce the sale of another Southwest Florida multifamily property – Brantley Pines for $57,000,000 or $192,568/unit. The seller was The Inland Real Estate Group of Companies, Inc. – one of the nation’s largest commercial real estate companies. The buyer was Boca Raton-based Interface Properties. To date, JBM® has transacted on over $930 Million with Inland on both the buy and sell-side.
This 29.11-acre, 296-unit property is located in Fort Myers, FL and was built in 2 phases (1988/1997) featuring a low-density site plan with 10.17 units per acre. 46% of the Property has been previously renovated. Interface plans on continuing a renovation program while also adding a lakeside walking path, and enhancing the clubhouse, pool area, landscaping, and more.
Amenities
Unique amenities include a resort-style pool, lakeside deck, fenced-in dog park, and brand new pickleball courts. There are also poolside grilling stations and a 24-hour, fully equipped fitness center. There are reserved parking and storage units available for rent as well.
Unit Features
Units are comprised of one, two, and three bedrooms averaging 908 SF. Upgraded units feature white shaker-style cabinets with brushed nickel hardware, resurfaced countertops, and updated light fixtures. Select units have stainless steel appliances and faux wood plank flooring. Phase 2 units feature 9′ and vaulted ceilings as well as French doors leading to patios. All units have walk-in closets, washers and dryers, and large screened-in patios/balconies.
Location
Brantley Pines is exceptionally well-located and features tremendous connectivity located just west of U.S. Highway 41 and north of Daniels Parkway providing access to all points of the broader Fort Myers MSA. The Property is just 1 mile to Publix Super Market and less than 2 miles to Target and Whole Foods. Lee Health Gulf Coast Medical Center and Lee Memorial Hospital are less than 5 miles away from the Property.
About JBM®
JBM® holds a 70%+ market share across Southwest Florida and is the #1 ranked boutique brokerage firm in the U.S.A. despite only transacting in Florida. Green Street’s 2023 national multifamily broker rankings ranks JBM® as the #1 highest average sold price per transaction throughout the entire U.S.A. and #1 highest average sales price per unit throughout Florida. JBM® has a lifetime transactions volume over $19.4 billion and 168,000 units.
SOURCE JBM Institutional Multifamily Advisors