London Bay Acquires Sandpiper Gulf Resort In Fort Myers Beach For $25M

The 63-unit Sandpiper Gulf Resort on Estero Island has been sold to London Bay, a Southwest Florida developer, for $25 million. The property, located at 5550 Estero Boulevard in Fort Myers Beach, is a condominium. The sale price equates to approximately $396,825 per unit.

Summary of transaction details

• Property Type: Condo
• Transaction Amount: $25,000,000
• Units: 63
• Price per Unit: $396,825
• Buyer: Mark Wilson - London Bay

This acquisition complements London Bay's expansion efforts on Estero Island. The developer recently opened the 58-unit Grandview at Bay Beach tower and also purchased 10 acres of land from the destroyed Outrigger Beach Resort for $38.2 million. London Bay is actively investing and expanding in the area.