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An institutional investor on Wednesday acquired the Amberton Luxury Townhomes, in Naples, for $67 million, in one of the largest multifamily deals in Southwest Florida in the past year.
The 306-unit complex was owned since its initial completion in 2007 by Amzak Capital Management of Boca Raton. The rental property was added to in 2015.
Collier County property records, as of Thursday morning, have yet to reflect the Sept. 20 sale of the 28.7-acre property.
The 8067 Dream Catcher Circle complex was 92% occupied at the time of the sale, says Tyler Minix, managing director of Miami-based Apartment Realty Services, which represented Amzak in the transaction.
Minix declined to provide the identity of the buyer.
“Naples has a limited supply of rental property, so when opportunities arise, investors tend to jump at them," Minix says.
“I think going forward it's going to be increasingly difficult to find projects in and around Naples to purchase, because investors are drawn to the area,” he adds.
(This story was updated to reflect that the project consists of townhomes.)
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