Pedcor Cos. Acquires 188-Unit Naples 701 Multifamily Complex For $30.2M

Indiana's Pedcor Cos. has purchased the 188-unit Naples 701 apartment complex in Florida for $30.2 million from Naples SI. The multifamily property, located at 3531 Plantation Way in Naples, offers a total of 188 units. The sale price amounts to approximately $160,638 per unit.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $30,200,000
• Address: 3531 Plantation Way, Naples
• Market: Naples
• Buyer: Pedcor Cos. - Gerald Pedigo
• Seller: Naples SI LLC
• Number of Units: 188
• Price Per Unit: $160,638

Pedcor Cos., headed by Gerald Pedigo, was the buyer in this transaction, while Naples SI LLC was the seller. Interestingly, previous records indicate a connection between the two companies. Naples SI had used Pedcor's address to reserve its name before acquiring the Naples 701 apartment complex in October 2020 for $24 million.