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$96M MultiFamily Sale On Winkler Ave, Fort Myers, FL Without Buyer Identification

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SOLD
$96,000,000

Florida

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SOLD

$96M MultiFamily Sale On Winkler Ave, Fort Myers, FL Without Buyer Identification

3701 Winkler Ave, Fort Myers, FL, 339...

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MultiFamily
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The Retreat at Vista Lake is a 640-unit, garden-style apartment complex located at 3701 Winkler Ave in Fort Myers, FL. Spanning 35 acres, the property consists of 32 two- and three-story buildings with one-, two-, and three-bedroom floor plans averaging 867 square feet. Amenities include two pools, a fitness center, gazebo with grilling area, tennis courts, racquetball court, lakeside basketball court, dog park, and a business center.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $96,000,000.00
  • Market: Fort Myers
  • Address: 3701 Winkler Ave, Fort Myers, FL

Matt Mitchell, Zach Nolan, Brett Moss, Drew Jennewein, Jarrod Smith, and Bailey Smith of JLL represented the undisclosed seller in the $96 million transaction. The buyer, an undisclosed private partnership, successfully acquired The Retreat at Vista Lake.

Players

Matt Mitchell
7 deals$393.1M volume
BROKER

Details

SOLD
IMAGE: 3701 Winkler Ave, Fort Myers, FL, 339... MARKET: Fort Myers ASSET TYPE: MultiFamily BROKERS: Matt Mitchell(Hall Structured Finance) BUYER: Unknown PRICE: $96,000,000.00

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,119,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$341,067.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$455,088.98
Annual Debt Service$5,461,067.72