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JBM Closes on $265M Worth of Class A Multifamily in Fort Myers
St. Petersburg, FL-based JBM Institutional Multifamily Advisors has completed the closing of three multifamily properties in Fort Myers, FL for a total of more than $265 million. The properties together encompass 775 units.
Las Palmas: A 300-unit, Class A garden-style trophy asset was completed in 2021. The property was purchased by PassiveInvesting.com and represents the organization’s largest acquisition to date. According to JBM, this transaction is represented the largest price per unit transaction in Lee County.
Drift at The Forum: A 195-unit, elevator-serviced, Class A mid-rise located adjacent to The Forum shopping center – a Target-anchored power center. Miami-based Momentum Real Estate Partners purchased the property.
Estero Oaks: A 280-unit, Class A garden product completed in 2017 and located two miles from the Gulf Coast Town Center, Miromar Outlets and Florida Gulf Coast University. The buyer was not disclosed.
JBM® Institutional Multifamily Advisors has $16.5 billion in transaction multifamily sales throughout FL.
- ◦Sale/Acquisition
