Avanath Capital Management fund buys Ospreys Landing Apartments

BUYER: Avanath Naples LLC (chief financial officer: Ron Juskiewicz), Irvine, Calif.
SELLER: Ospreys Landing Ltd.
PROPERTY: 5005 Davis Blvd. also known as 100 Ospreys Landing, Naples
PRICE: $13.05 million
PREVIOUS PRICE: $968,000, December 1993
LAW FIRM ON DEED: Lowndes Drosdick Doster Kantor & Reed PA, Orlando

PLANS, DESCRIPTION:
An investment fund managed by Irvine, Calif.-based Avanath Capital Management purchased the 176-unit Ospreys Landing Apartments for $13.05 million.

The price equated to $74,148 per unit. That figure is in line with the average price per unit for multifamily space ($70,191) in Southwest Florida, according to the CoStar Group.