Updated Oct 28, 2024
TerraCap Management Acquires 280-Unit Multifamily In Fort Myers For $94M
9940 Estero Oaks Drive, Fort Myers, Florida 33967, United States
$94,000,000
Units
280
Asset Type
MultiFamily
Closing
Mar 9, 2022
About this deal
AI
The multifamily property located at 9940 Estero Oaks Dr in Fort Myers has been sold for a total of $94,000,000. The transaction took place on 03/10/2022 and involved a 18.14-acre plot of land. The property consists of 280 units, with a per unit price of $335,714.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $94,000,000
- Date: 03/10/2022
- Address: 9940 Estero Oaks Dr
- Market: Fort Myers
- Acres: 18.14
- Buyer: TerraCap Management - Steve Good
- Seller: Royal Palms Cos.
- Broker: Jamie May - JBM
- Units: 280
- PPU: $335,714
The buyer of the property is TerraCap Management, represented by Steve Good. The seller is Royal Palms Cos. The broker involved in the transaction is Jamie May from JBM.
On the Map
$94,000,000
MultiFamily
View full map
Players
Fort Myers MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Jamie May to view all their deals.
Browse Florida multifamily sales on Traded.
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