Indiana investor pays $30.2 million for Naples apartments

Naples/Fort Myers

Confusing coincidence: A 188-unit apartment complex in Naples has been sold to an Indiana company by an Indiana company. The complex is Naples 701 at 3531 Plantation Way. According to Collier County property records, the buyer was Pedcor Cos. out of Carmel, Indiana, a suburb of Indianapolis. Records show it paid $30.2 million. The seller was an LLC named Naples SI which, according to Florida’s Division of Corporation’s database, is based in Newburgh, just outside of Evanston. Here’s where it gets interesting. A search of Naples SI on Indiana’s Secretary of State’s website shows that on Aug. 14, 2020 someone named Blake Jefferies applied to reserve the name Naples SI and listed Pedcor's address as its address. (There is a Blake Jefferies listed as a legal assistant on Pedcor’s website) The registration was canceled a few weeks later on Sept. 30, 2020, the same day articles of incorporation were filed by a different person using the Newburgh address. Naples SI, county property records show, paid $24 million for the complex in October 2020.

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