Naples, Florida – We have NNN Commercial Real Estate news on investors buying Apartment Building Complexes. The Apartment Building Sector has some exciting opportunities for investing and attractive commercial loans available. We want to report news that the Investment Firm, TGM Associates LP, has purchased the 360-unit Bermuda Island Apartments. This commercial real estate Investment Firm paid $29.5 million for the well maintained Apartment Building. The Investment Property purchase price equates to approximately $81,941 per door, for this Naples Multi-Family Apartment complex. One of the factors that made this commercial real estate development attractive, is the occupancy rate is approximately 90% leased.
Naples Florida Commercial Property For Sale
The Bermuda Island Apartments are located at 3320 Bermuda Isle Circle in beautiful Naples, Florida. The commercial real estate development sits in the 34109 zip code zone. The Investment Property offers Tenants to lease here and live a Resort Life style. This Commercial Real Estate development was constructed with picturesque Florida-style architecture and has a tropical lake front. These Apartment units were designed to combine unique floorplans with an amenity package that is normally found in custom homes and world class resorts. The Investment Property maintains a high occupancy rate as it is situated in a convenient, comfortable area in the amazing town of Naples.
Multi-Family Investment Property Sells in Naples, Florida
The Commercial Real Estate development is very close to the Ritz Carlton’s Tiburon Resort and Club. The Florida Investment Property was completed in 1998. This outstanding Apartment Building complex consists of 12 three-story residential Apartment buildings, constructed of wood frame and hardy plank. This Multi-Family Investment is approximately 376,523 square-feet of leaseable space. The Commercial Real Estate development features one, two and three bedroom floor plans ranging in size from 662 sf to 1,607 square feet. We are unaware if a 1031 exchange was achieved with this commercial real estate transaction.
Apartment Buildings
Bermuda Island Apartment Buildings are surrounded by a two-acre lake. The gated complex also features a 2,000-square-foot full-fitness health spa, garages, a beach volleyball court, a jogging path and two lighted tennis courts. The Commercial Real Estate development has a lakefront free-form pool and a heated whirlpool spa. Apartments in the property development lease from $769 a month for a two-bedroom unit to approximately $1,069 for a three bedroom apartment for lease.
Apartments in Jupiter, Florida
TGM Associates will manage the facility. The New York City-based Investment Firm already owns the Floresta Apartments and Vintage at Abacoa Apartments in Jupiter, Florida and Hunters Way Apartments in Jacksonville. The Bermuda Island Apartments are only minutes away from Interstate 75, and close to the world class beach. This area of Naples has plenty of triple net lease properties and retail shopping centers, entertainment, arts and events in downtown Naples.
Bermuda Island Apartments offer the following community amenities and apartment features.
Door-to-Door Valet Trash and Extended Cable included in lease
Direct-access Garages available
Fitness Center
Relaxing Lakefront Whirlpool Spa
Beach Volleyball Court
Wi-Fi Internet Access
Jogging Path
Business Center
Covered Parking
Gated Access
Concierge service: Fax, Copy, Package Acceptance Service
Open Air Screened Grill Room
67,000-Gallon Resort-style Swimming Pool
Indoor Racquetball
2 Lighted Tennis Courts
2-Acre Lake
Beautiful Clubhouse
Laundry Facility
Emergency Maintenance
Professionally Managed by TGM Associates
Contact for Acquisitions and Dispositions:
We recommend NNN Commercial Real Estate Investors use our preferred financing specialists for CTL Financing and Commercial Mortgages.
