Cardone Capital pays $53m for Fort Myers apartments

Cardone Capital pays $53m for Fort Myers apartments

Published at: 2019-08-30 15:35 | Author: CIJ USA
Cardone Capital has picked up a 350-unit apartment complex for $53 million in Fort Myers. The property, Iona Lakes, was built in 1986 at 15000 Iona Lakes Drive. The asset encompasses 50 two-story residential buildings, a clubhouse and a laundry building. With an average unit size of 811 sqf, the complex changed hands for just under $151,430 per unit. The seller, Northland Investment Corp., bought the community in 2013 for $22m at a time when it was 94 percent leased.

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