Updated Sep 29, 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 were sold as part of a sale transaction valued at $225 million. The combined properties span a total of 15.01 acres and feature approximately 800 feet of Gulf frontage.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $225,000,000
- Seller: DeGroote Family
- Broker: Michael McCumber - The McCumber Group - Gulf Coast International Properties
The transaction involved the estate of the late Canadian billionaire Michael DeGroote, linked to the seller's family. The identity of the buyer remains undisclosed, while the deal was facilitated by broker Michael McCumber of Gulf Coast International Properties.
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