New Market acquires Naples center for $37.8 million

Atlanta firm adds a second Naples shopping center to its portfolio of 44 properties

By Kevin McQuaid
| 6:00 a.m. August 17, 2018
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Commercial Real Estate

An Atlanta firm that is a subsidiary of a major apartment developer has invested $37.8 million to buy a Naples shopping center in one of the largest retail transactions of the year in Southwest Florida.

New Market Properties LLC, a wholly owned subsidiary of Preferred Apartment Communities Inc., purchased the Neapolitan Way Shopping Centre in late June, according to Collier County property records.