DeBartolo sells 28-acre site

FORT MYERS — DeBartolo Development LLC recently announced the sale of The Palms of Monterrey for $39.2 million, or roughly $96,000 per unit, according to a news release.

The company worked with Behringer Harvard Opportunity REIT II Inc. and Christian Tyler Properties LLC to sell the 408-unit multifamily property located in Fort Myers to Newton, Mass.-based Churchill Forge Properties Inc. Behringer is based in Dallas and Christian Tyler is headquartered in Tampa.

Built in 2001, the gated development is located on 28 acres at 15250 Sonoma Drive. The community consists of 17 three-story buildings with one-, two-, and three-bedroom units.