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3701 Winkler Ave, Fort Myer...

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

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

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

$96,000,000

Building Size

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

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

Hall Structured Finance

Broker

$393.1M

vol

7 deals

Broker

Fort Myers MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93