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Business Observer Wednesday, Dec. 1, 2021 1 month ago

Beverly Hills investor pays $46 million for local apartment community

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The Reef at Winkler, a smart community in Fort Myers, sold to company run by California lawyer and real estate broker
by: Louis Llovio Commercial Real Estate Editor

FORT MYERS — A California investor has bought a Fort Myers apartment development known for being a “fully integrated smart community” for $46 million.

Lee County property records show PRG Reef LLC bought the property, The Reef at Winkler, in mid-November.

PRG Reef, according to Florida’s Division of Corporations, is based on Wilshire Boulevard in Beverly Hills, not far from the famed Rodeo Drive. The division’s website shows Marc Nourafchan as the company’s manager. Nourafchan is a lawyer and licensed real estate broker, according to a California records search of his name and the Wilshire address.

The Reef at Winkler, at Winkler Avenue and Schoolhouse Road West, bills itself online as “Southwest Florida’s first Smart community.” Along with other, more traditional amenities, apartments in the 160-unit community come equipped with smart-home technology, including smart-locks, smart lighting, smart thermostats and an Amazon Echo.

Matt Valentine, a partner with MJ Development Southeast, which developed the community, says in a statement announcing the sale that “we wanted to raise the bar in the Fort Myers market and offer a luxury lifestyle that integrated the latest state-of-the-art technology alongside fantastic amenities.”

“The demand for this type of lifestyle will only grow and will quickly become a necessity for housing developers to integrate into their designs.”

Work on the property was completed earlier this year and includes a one-acre preserve.

According to the statement, The Reef at Winkler was the featured as a national community of the month by Broadband Communities, an industry magazine. 

The Lincoln Property Co. will manage the community. Tyler Minix, director of multifamily capital markets for Newmark, represented the seller.

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