Coastal Ridge buys Reef complex for $78 million

Student housing apartments the latest Lee County purchase for Ohio company

  • By Kevin McQuaid
  • | 6:00 a.m. September 21, 2018
  • | 0 Free Articles Remaining!
COURTESY PHOTO — Coastal Ridge Real Estate acquired the 228-unit The Reef student housing complex near Florida Gulf Coast University for $78.75 million.
COURTESY PHOTO — Coastal Ridge Real Estate acquired the 228-unit The Reef student housing complex near Florida Gulf Coast University for $78.75 million.
  • Commercial Real Estate
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An Ohio-based firm that has been among the most active multifamily rental investors in Southwest Florida in the past year has teamed up with a Michigan company to acquire The Reef, an upscale student housing complex near Florida Gulf Coast University, in Fort Myers.

Coastal Ridge Real Estate and M Group paid $78.75 million for the 228-unit complex, at 10121 Shephard St.

 

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