2017 Top Deals: Southwest Florida

Unlike the past two years, when flashy sales of upscale mixed-use retail and office projects, luxury resorts and vast land tracts made news in Charlotte, Lee and Collier counties, Southwest Florida in 2017 was all about multifamily rental projects.

All Top Five transactions in the region were comprised of apartments, concentrated in Naples and Fort Myers. By comparison, three of the top deals of 2016 were for multifamily rentals, boosted by increased household formations, in-migration and job growth.

Investors also cited the relative lack of new construction and barriers to entry — especially in Naples - to developing new supply, though several new apartment complexes are now being developed or planned, especially in Lee County.