JBM Exclusively Lists Venetian Apartments in Fort Myers, FL
NAPLES, Fla., March 6, 2025 /PRNewswire/ -- JBM® Institutional Multifamily Advisors has exclusively listed the Venetian – a Class A trophy asset, two & three-story garden product with brand new barrel tile roofs in Fort Myers, FL. The 2018-built Property is comprised of 436 units averaging 928 square feet and is located on 23.44 acres +/-.
Unique deal highlights include stellar assumable debt with ~72% LTV, 8.5 years remaining, 5.16% interest rate, and full-term I/O as well as an in-place, SB102 ("Live Local") tax abatement for 85 units. These Live Local units receive a 75% abatement to their ad valorem taxes.
A Call For Offers Date is set for Thursday, March 13th, 2025.
Product
Venetian features a luxury amenity package, including a resort-style, lakeside pool, hot tub, expansive pool deck with numerous lounging options and shaded daybeds. The Property's grand clubhouse showcases a community lounge, fireplace, game room, business center and coffee station. Other notable amenities include a waterfront gazebo with grilling stations, two 24/7 fitness centers, a large fenced-in dog park, pet spa, and detached garages available for rent. The Property received brand new barrel tile roofs in 2024.
Units
The Property consists of a diverse mix of one, two, and three-bedroom units. These unit interiors feature open-concept floorplans with kitchens including stainless steel appliances, kitchen islands, designer pendant lighting, and granite countertops, modern two-tone custom cabinetry, luxury faux wood plank flooring, and in-unit washers and dryers.
Location
Venetian has tremendous connectivity located on Winkler Avenue which intersects Colonial Blvd & Veronica S Shoemaker Blvd. The Property is located less than 2 miles from The Forum – a retail power center anchored by Target, Home Depot, Petco, and Ross. Lee Health's brand new, $434 million hospital, featuring 416K sqft, 168 beds, 16 operating rooms, and 30 emergency room bays will be less than half a mile from the Property.
About JBM®
JBM® holds a 70%+ market share across Southwest Florida and is the #1 ranked boutique brokerage firm in the U.S.A. Green Street's 2024 national multifamily broker rankings rank JBM® as the #1 highest average sold price per transaction throughout the entire U.S.A. (for the 4th year in a row). JBM® has a lifetime transactions volume of $20+ billion and 172,000+ units.
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SOURCE JBM Institutional Multifamily Advisors