SC Bodner Co. has sold Charlotte Commons, a 264-unit multifamily community in Port Charlotte, Fla., for $66.5 million. The buyer was a joint venture between Image Capital and an unnamed New York-based operator. JBM Institutional Multifamily Advisors brokered the transaction.
Completed in 2022, the property comprises 12 three-story buildings which encompass studio, one-, two- and three-bedroom floorplans ranging from 498 to 1,235 square feet. Apartments feature in-unit washers and dryers, quartz countertops, hardwood-style flooring, high ceilings and private balconies or patios. Common-area amenities include a fitness center, resident cafe, swimming pool, pickleball court, club house and yoga room.
Located at 24150 Beatrix Blvd., the 16.1-acre property is off Interstate 75 and roughly 30 miles north of Fort Myers, Fla. The surrounding area has many retail options, the community being within walking distance of various dining and shopping venues.
The Southwest Florida market sees substantial growth
The Southwest Florida Coast area has recently positioned itself as one of the top emerging multifamily markets in the U.S., with the price per unit up 15.3 percent year-over-year through December to $276,371, above the national average of $185,172. In 2023, there were 5,463 units delivered in the region and the development pipeline totaled 16,166 units as of December.
One of the largest recent transactions in the area was Goldelm’s $102 million acquisition of ParkCrest Landings, a 400-unit property in Bradenton, Fla., in a deal also brokered by JBM. Passco Cos. sold the asset.
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