Elevate Partners Acquires 70 Acre Development Site In Fort Myers For $21.9M
1100 Colonial Boulevard, Fort Myers, Florida 33966, United States
$21,970,097
Building Size
—
Asset Type
Development Site
Closing
Feb 24, 2022
AI
The sale of a development site in Fort Myers has recently taken place at 1100 Colonial Boulevard. The property, spanning 70 acres, was sold for a total of $21,970,097. The transaction was finalized on 02/25/2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $21,970,097
- Address: 1100 Colonial Boulevard
- Market: Fort Myers
- Buyer: Elevate Partners, LLC
- Seller: Summit Properties SW, LLC
- Buyer's Representative: Bill McGee III - Berger Commercial Realty/Corfac International
- Seller's Representative: Brandon Delanois - JLL
Bill McGee III, representing the buyer Elevate Partners, LLC, played a key role in facilitating the sale. On the other side, Brandon Delanois, representing Summit Properties SW, LLC, acted as the seller's representative in the transaction.
Players
Fort Myers Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93