Southwest Florida complexes trade for $137.6 million

A pair of Southwest Florida apartment complexes have sold for a combined $137.6 million, a sign that investors' fever for rental projects remains high in Lee and Collier counties.

In one deal, Los Angeles-based TruAmerica Multifamily and MSD Capital L.P. — an investment vehicle for Dell Computer founder Michael Dell's family — purchased the Sienna at Vista Lake in Fort Myers for $66 million.

The 640-unit complex, which was constructed as two separate complexes in 1990 but combined 20 years later, contains 32 garden-style apartment buildings.