JBM Institutional Multifamily Advisors has exclusively listed the Venetian apartments in Fort Myers.
The Southwest Florida property is a Class A trophy asset, two & three-story garden product with brand new barrel tile roofs. The 2018-built property is comprised of 436 units averaging 928 square feet and is located on 23.44 acres +/-.
Unique deal highlights include stellar assumable debt with ~72% LTV, 8.5 years remaining, 5.16% interest rate, and full-term I/O as well as an in-place, SB102 (“Live Local”) tax abatement for 85 units. These Live Local units receive a 75% abatement to their ad valorem taxes.
Venetian apartments in Fort Myers feature a luxury amenity package, including a resort-style, lakeside pool, hot tub, expansive pool deck with numerous lounging options and shaded daybeds. The property’s grand clubhouse showcases a community lounge, fireplace, game room, business center and coffee station. Other notable amenities include a waterfront gazebo with grilling stations, two 24/7 fitness centers, a large fenced-in dog park, pet spa, and detached garages available for rent. The property received brand new barrel tile roofs in 2024.
The property consists of a diverse mix of one, two, and three-bedroom units. These unit interiors feature open-concept floorplans with kitchens including stainless steel appliances, kitchen islands, designer pendant lighting, and granite countertops, modern two-tone custom cabinetry, luxury faux wood plank flooring, and in-unit washers and dryers.
Venetian has tremendous connectivity located on Winkler Avenue which intersects Colonial Blvd and Veronica S Shoemaker Blvd. The property is located less than two miles from The Forum – a retail power center anchored by Target, Home Depot, Petco, and Ross. Lee Health’s brand new, $434 million hospital, featuring 416K sqft, 168 beds, 16 operating rooms, and 30 emergency room bays will be less than half a mile from the property.
