Bassam Yammine Of Excelsa Properties Purchases Oasis Naples Multifamily For $40.92M

The multifamily asset located at 2277 Arbour Walk Circle in Naples comprises 216 units and was acquired for $40,920,000. This property, known as the Oasis Naples apartment complex, features resort-style amenities and consists of 18 buildings. The development was completed in 1992, and the price per unit was calculated at $189,444. Excelsa Properties plans to invest an additional $7 million in upgrades to enhance the property's appeal and performance.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $40,920,000
• Units: 216
• Price Per Unit: $189,444
• Buyer: Bassam Yammine
• Agency: Excelsa Properties
• Market: Naples

Bassam Yammine, representing Excelsa Properties, executed the purchase of the Oasis Naples apartment complex and noted that this acquisition marks the second Florida investment for the company in the past year.