James Schloemer Of Continental Properties Acquires 264-Unit Multifamily Property From Geis Cos For $56.7M

The transaction involved the sale of a multifamily asset located at 16909 Vintage Commerce Boulevard in Fort Myers, Florida. The property encompasses 14.15 acres and comprises 264 units. The sale price for this Class A+ multifamily property was $56,700,000, resulting in a per unit price of $214,773. The Centro, completed in 2023, offers extensive luxury amenities, including a resort-style pool and fitness center, along with modern unit interiors featuring high-end finishes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $56,700,000
• Address: 16909 Vintage Commerce Boulevard
• Market: Fort Myers
• Acres: 14.15
• Units: 264
• Price Per Unit: $214,773
• Buyer: James Schloemer - Continental Properties
• Seller: Geis Cos.
• Broker: Jamie May - JBM Institutional Multifamily Advisors

The individuals involved in the transaction included buyer James Schloemer representing Continental Properties and seller Geis Cos. Jamie May represented JBM Institutional Multifamily Advisors in the deal, facilitating the transaction on behalf of the buyer and seller.