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Four Danes, two locals buy Edgewater Inn
BUYER: Edgewater Inn LLC (principal: Lars Kruse Ericksen), Denmark
SELLER: Ken and Sylvia Lachapelle
PROPERTY: 781 Estero Blvd., Fort Myers Beach
PRICE: $1.2 million
PREVIOUS PRICE: $500,000, June 1997
LAW FIRM ON DEED: William E. Shenko Jr. PA, Fort Myers Beach
PLANS, DESCRIPTION: Edgewater Inn LLC, a partnership of four owners from Denmark, purchased the six-unit Edgewater Inn on the western end of Estero Island for $1.2 million. The purchase price equated to $200,000 per unit.
TW Rental Management, Fort Myers Beach residents Ted and Wendy Geesaman's property management firm, that already handles the 15-unit Bay to Beach resort and the 10-unit White Cap Suites, will manage the inn. The 7,247-square-foot three-story building was originally constructed in 1986.
“It has a good base of rental clients,” says Wendy Geesaman. “After season, we will be updating the units to give it a newer feel. Otherwise we're just planning to run it the same way Ken and Sylvia [the former owners] did. It has a great family feel that keeps their guests coming back to the same place year over year.”
The inn features four two-bedroom and two one-bedroom units, a heated swimming pool and two fishing/boat docks.
The new ownership Edgewater Inn LLC mortgaged the property to Ken and Sylvia Lachapelle for $800,000.
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