Fort Myers multifamily complex sells for $95 million

In what is believed to the largest multifamily complex sale along the Gulf Coast in at least the past decade, a 936-unit apartment community in Fort Myers sold for $95.2 million.

Starwood Capital Group acquired Gulfstream Isles Apartments as part of a larger strategy to buy apartments at a time when homeownership rates are historically low and the residual effects of the past decade's foreclosure crisis still linger.

In all, Greenwich, Conn.-based Starwood controls more than 90,000 apartment units nationwide, according to its website.