TerraCap Management Acquires 280-Unit Multifamily In Fort Myers For $94M
SOLD
$94,000,000
Florida
See Similar DealsMultiFamily
Sold 03/10/2022
SOLD
TerraCap Management Acquires 280-Unit Multifamily In Fort Myers For $94M
9940 Estero Oaks Drive, Fort Myers, Florida 33967, United States
See Similar DealsMultiFamily
Sold 03/10/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
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.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,013,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$333,962.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$445,607.96
Annual Debt Service$5,347,295.48
Is there something missing? Send suggestions