Read Properties affiliates buy Palm Vista, adjacent apartment

BUYER: Palm Vista 129 TIC LLC and Palm Vista 80M TIC LLC (manager: Robert Wolf), Brooklyn, N.Y.
SELLER: RFHAdvisors Palm Vista LLC
PROPERTY: 3726-3748 and 3758-3764 Central Ave., Fort Myers
PRICE: $6.7 million
PREVIOUS PRICE: $2.5 million, March 2011 and $400,000, March 2012
LAW FIRM ON DEED: Burr & Forman LLP, Tampa

PLANS, DESCRIPTION:
Two tenant-in-common companies managed by Read Properties of Brooklyn, N.Y., purchased the 136-unit Palm Vista Apartments and an adjacent 16-unit apartment complex for $6.7 million.

The price equated to $44,079 per unit. That figure is lower than the average price per unit for multifamily space ($70,191) in Southwest Florida, according to the CoStar Group.