Updated Oct 7, 2026
DeGroote Family Sells Three Waterfront Properties In Port Royal For $225 Million
2340 Gordon Drive
$225,000,000
Building Size
—
Asset Type
Single Family
Closing
Apr 27, 2025
About this deal
AI
Three adjacent waterfront properties located at 2170, 2200 & 2340 Gordon Drive in Naples have been sold for a combined price of $225 million. The total land area of these properties spans 15.01 acres, boasting 800 feet of Gulf frontage.
Summary of transation details:
- Property Type: Single Family
- Transaction Amount: $225,000,000
- Seller: DeGroote Family
- Broker: Anthony Caraballo & Michael McCumber - The McCumber Group - Gulf Coast International Properties
- Market: Naples
- Acres: 15.01
- Gulf Frontage: 800 feet
The seller is associated with the family of the late Canadian billionaire Michael DeGroote. The identity of the buyer in this transaction remains undisclosed.
On the Map
$225,000,000
Single Family
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Players
Naples Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93