FORT MYERS, Fla., April 20, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a Downtown Fort Myers Portfolio, a 45-unit apartment complex located at 2575 Second Street in Fort Myers, Florida. The property sold for $5,475,000.
Adam Podbelski, Ned Roberts, Jason Hague and Sam Ferguson of the RPH Multifamily Group in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, Florentine Holding Company XI, LLC and Florentine Holdings Company, LLC. The buyer, Downtown Fort Myers Apartments, LLC, was also secured and represented by the RPH Multifamily Group.
“The downtown area of Fort Myers and its growth is continuing to spur the deployment of outside capital,” said Podbelski. “Coupled with the fact that much of the area is direct waterfront and offers excellent dining and entertainment options, I don’t see this slowing down anytime soon.”
The three-property portfolio consists of eight buildings on 2.58 acres of land in downtown Fort Myers. All three of the Class “A” properties are within 1.4 miles of each other and strategically located within minutes of Downtown Fort Myers.
The portfolio includes Residences at Second Street located at 2575 2nd Street, Arvelee Apartments on 2554 First Street, and Riverside Landings located at 3165-3175 East Riverside Drive.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.