Updated Dec 4, 2024
BH Group & Kolter Group Acquire Development Site In Naples For $102.6M
1121 Gulf Shore Boulevard North
$102,600,000
Building Size
—
Asset Type
Development Site
Closing
Apr 8, 2024
About this deal
AI
The development site located at 1121 Gulf Shore Boulevard North in Naples was recently transacted for $102,600,000. The property was acquired by BH Group & Kolter Group.
Summary of transaction details:
- Property Type: Development Site / Land
- Transaction Amount: $102,600,000
- Address: 1121 Gulf Shore Boulevard North
- Market: Naples
The sale of the development site was facilitated by Maurice Habif, Simon Banke, Danielle Fernandez & Luca Victoria from JLL. Their representation assisted in successfully closing the deal.
The development site sale at 1121 Gulf Shore Boulevard North in Naples, Florida sold for $102.6M in 2024. 1121 Gulf Shore Boulevard North is classified as Development Site on Traded. Danielle Fernandez, Luca Victoria, Simon Banke, Maurice Habif appear on the sale alongside JLL. This page is the Naples, Florida file for the 1121 Gulf Shore Boulevard North development site sold: pricing, party profiles, and other closed development site comps from the same Naples sit in the Market section below. Filter that Naples development site set by closing date to see what else sold near 1121 Gulf Shore Boulevard North around 2024. Published consideration for 1121 Gulf Shore Boulevard North is $102.6M, dated 2024. Cite this BH Group & Kolter Group Acquire Development Site In Naples For $102.6M sale when underwriting similar development site product around Naples, Florida.
Players
Naples Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93