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Business Observer Tuesday, Apr. 30, 2019 3 months ago

Real estate investment firm joins forces with apartment developer

Collier Enterprises’ investment in Legacy Partners to broaden portfolio into multifamily properties.

NAPLES — Real estate investment and agribusiness company Collier Enterprises has joined Legacy Partners, a privately owned national real estate development firm based in California.

The investment from Naples-based Collier Enterprises — developer of The Old Collier Golf Club, Hamilton Harbor Yacht Club, Collier’s Reserve and more — will assist Legacy Partners in expanding its activities in Florida and nationally, according to a statement. 

“The depth and breadth of Legacy Partners’ market knowledge, the talent and skill of its development partners, and the company’s track record of building apartment communities of excellence is quite impressive,” says Collier Enterprises President and CEO Donald Huffner. “We are excited to align ourselves with another quality developer in Legacy Partners as we expand our investments in national opportunities.”

Legacy Partners has under construction or recently completed nine rental communities in four western states. In addition, five new communities are expected to begin construction in 2019 with seven more in 2020. Since 1968, it has developed more than 60,000 apartment units. The privately held company also provides management services for its own portfolio, as well as for other owners, representing 60 multifamily communities of more than 14,000 apartment homes. Legacy Partners has regional offices in California, Colorado, Texas and Washington, and has recently expanded operations into the Southeast with a new office in Orlando.

Founded in 1976, Collier Enterprises plans residential, commercial, health care and office properties. It also manages a portfolio of agricultural lands and operations, mineral holdings and other investments.

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