Northland Investment Corp. buys Bay Breeze apartments

BUYER: Northland Bay Breeze LLC (officers: Lawrence Gottesdiener, Steven Rosenthal, Suzanne Abair and Beth Kinsley), Newton, Mass.
SELLER: Bay Breeze Sonesta LLC
PROPERTY: 16001 Bayside Pointe, Fort Myers
PRICE: $24.15 million
PREVIOUS PRICE: $13.58 million, June 2010
LAW FIRM ON DEED: Hunton & Williams LLP, Richmond, Vir.

PLANS, DESCRIPTION:
Newton, Mass.-based real estate investment company Northland Investment Corp. purchased the 180-unit Bay Breeze apartments for $24.15 million.

The price equated to $134,167 per unit. That figure is higher than the average price per unit for multifamily space ($70,191) in Southwest Florida, according to the CoStar Group.