A former owner returns to a property he lost during the real estate collapse.
FORT MYERS BEACH — Jack Mayher is back with the Compass Rose Marina development.
Mayher, whose Compass Rose Marina Joint Venture LLC lost the self-storage facility and marina development site on Fort Myers Beach through a foreclosure in 2010 to Synovus Bank, has purchased the property back.
Mayher and Stanley Smagala, president of Palos Hills, Ill.-based Capital Acquisitions and Development Inc., led the purchase entity, Southern Comfort Storage LLC, which acquired the 7.58-acre property for $2.1 million, according to a release. The seven-parcel site, at 1135 Main St., Fort Myers Beach, features a 24,000-square-foot self-storage building, a partially developed marina and a sales center office building.
The seller, Crimson Main Street Marina LLC, is an affiliate of financial services firm Sabal Financial Group LP. It purchased the property in a portfolio from Synovus Bank in December 2012.
The Main Street property retains development approvals for a project that includes wet and dry boat slips with direct waterfront access to the Gulf of Mexico. Ashley Bloom, founding chairman of Sperry Van Ness' Land Product Council, handled the sale.