Boca Raton-based Interface Properties recently purchased Brantley Pines, a 296-unit property in Fort Myers, Florida, from Oak Brook, Illinois-based commercial real estate owner The Inland Real Estate Group of Companies for $57 million, or $192,568 a unit. Berkadia’s Mitch Sinberg, Michael Basinski, and  Brad Williamson and Scott Wadler secured a $39.9 million acquisition loan on behalf of Interface Properties. Freddie Mac provided the fixed-rate, five-year loan.

Inland had upgraded 46% of the property before selling. The buyer plans to complete the renovation program while also adding a lakeside walking path and enhancing the clubhouse, pool area and landscaping.

Interface, founded in 1990, has completed deals in 20 states across all asset classes.

Inland has been in business since the 1970s. It has closed over $80 billion in transactions in 49 states. The company has sponsored Public and Private REITs, 510 Public and Private LPs and LLCs, and 266 Tax-Focused Investments, including Section 1031 Exchange Programs.