Multifamily Complex In Southwest Florida Fetches $67 Million

9/20/17

Tyler Minix, Managing Director with Miami-based Apartment Realty Services, represented the seller in the sale of Amberton Luxury Townhomes, a two-story, 306-unit townhome complex located in Naples, Florida.

The Class A rental community was purchased from Amzak Capital Management for $67,000,000, equating to $218,954 per unit.

The deal closed September 20.

"The Naples submarket continues to show strong fundamentals that attract institutional investors,” explained Minix. “The concrete block townhome style construction provided an excellent opportunity to acquire a Class A property in a submarket with limited supply."

Built in 2007 through 2015, the community offers a wide array of amenities including Club Amberton, a 4,500-square-foot recreational center. Offering eight distinctive floor plans, individual townhomes include generously equipped kitchens, spa-inspired bathrooms, and stunning designer details.

About Apartment Realty Services: Apartment Realty Services is a full service multifamily advisory firm specializing in investment sales, debt placement and equity sourcing. The team leverages private equity experience to provide the highest level of service to institutional partners, real estate funds and individual investors. Before founding Apartment Realty Services, Managing Director Tyler Minix was the Director of Investments at Cardone Acquisitions, managing more than 4,000 multifamily units valued at over $500MM. Additional responsibilities included portfolio management and spearheading the acquisition of more than 2,000 units throughout the Southeast. For more information, please visit www.apartmentrealtyservices.com, email tminix@aptrealty.us or call 239.281.1895.

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