Lakewood Ranch apartment complex sells for $134.9 million

Naples/Fort Myers

The sale price is…: Lee County property records show that Atlanta real estate company ECI Group paid $78 million for what was previously known as the Longitude 81 Apartments in Estero. The company, which has renamed the complex Waterline Estero, announced the sale last month but declined to reveal the sale price. The complex sits on 17.95 acres at 11221 Everblades Parkway, which is off Corkscrew Road near the Miromar Outlets and the Hertz Arena. The 260-unit complex is made up of 11 two story buildings with studio, one-, two- and three-bedroom “townhome-style apartments” with private, ground-floor entrances. ECI bought the complex from a company named Passco Longitude DST which, according to the county’s property records, paid $54.9 million for the complex in 2017. 

Luxury out-parcels: Developers have bought a pair of out-parcels off Three Oaks Parkway and Estero Parkway in Fort Myers. The parcels are part of a collection of properties that borders the Estero Oaks Luxury Apartments on two sides. The first plot is 1.54-acre lot on the northwest corner of the intersection. It was bought by Augilar Development, which paid $1.1 million. The second parcel is 1.29 acres and was sold for $900,000 to an undisclosed buyer. The properties were previously owned by Estero Three Oaks Partners, according to Premier Commercial,  which represented the company and announced the sale.