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.
- ◦Sale/Acquisition