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Florida & Gulf Coast  + South Florida  + Apartments  |  June 17, 2021
David Cohen
By: David Cohen

ZMR Capital Acquires Fort Myers MF Property for $45M

Real estate investment firm ZMR Capital has acquired Park Place Apartments, a 338-unit multifamily community in Fort Myers, FL. The sales price was $44.5 million.

Park Place features a mix of studio, one-, two- and three-bedroom floorplans. ZMR plans to launch a multi-million dollar capital improvement plan that includes the installation of in-unit washers and dryers, new stainless steel appliances, upgraded countertops and cabinetry, premium backsplash and new plank flooring. Park Place is located at 4637 Deleon Street.

“Our renovation plan will include exterior paint, landscaping and new signage to help address this problem,” said Zamir Kazi, CEO at ZMR. “Other common area upgrades will include a complete refurbishing of the property’s three pools and deck areas, and the addition of outdoor kitchens, barbecue areas, and a children’s playground.”

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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