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TerraCap Management has sold Versol, a Class A-plus, 240-unit multifamily in Bonita Springs, FL, for $87.3 million.

TerraCap Management Unloads Class A-Plus Bonita Springs Multifamily for $87M

Naples, FL-based TerraCap Management, a privately held investment manager, has divested a Class A-plus, 240-unit multifamily in Bonita Springs, FL for $87.3 million ($363,542 per unit).

Brokerage firm JBM Institutional Multifamily Advisors brokered the sale of Versol, a transaction that marks the second time in the last two years that JBM Institutional Multifamily Advisors has sold the property.

Versol sits on is 27.35 acres and consists of 240 units averaging 1,094 square feet, for a density of 8.78 units per acre. Amenities features include a resort-style pool with sun shelf; coastal-style clubhouse; fitness center with spin/yoga room; outdoor summer kitchen; bocce ball court; Amazon Hub package lockers; and rentable storage units and garages.

Versol is three miles to Barefoot Beach and within five miles of two major hospitals. Notable five-mile demographics include average household income of $117K and an average net worth of $2.2 million.

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JBM Institutional Multifamily Advisors

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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