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Aspen investor buys 27 Naples properties from David Hoffmann

M Development Acquires $186M Hoffmann Naples Portfolio

Through its affiliates, Aspen-based M Development has acquired a portfolio of downtown Naples properties for $186,709,135. Well-known Naples property owner David Hoffmann was the seller. A recent Forbes story reports Hoffmann owns 42 commercial properties in Naples.

This commercial portfolio includes a collection of 27 buildings situated on well-known streets. The properties are located in the upscale market of Naples, offering opportunities for redevelopment and potential upgrades. Among the properties were Coral Cay Adventure Golf, $16 million; 950 and 990 First Ave. for $17.7 million; 780 Fifth Ave. for $20.23 million; 353 Fifth Ave. S., $12 million. John Biegalski represented M Development.


Inside The Story

David Hoffmann

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition