Houston company pays $36.5 million for two Hillsborough apartment complexes

Naples/Fort Myers

Estero extension: An Indianapolis real estate investment firm has bought a 34-acre mixed used development site in Estero. The buyer is the Buckingham Cos. The property was bought for $9.75 million by an LLC called BC Estero, according to the Bonita Spring commercial real estate firm Premier Commercial. BC Estero’s main address matches Buckingham’s and its two managers are Buckingham CEO Brad Chambers and CFO and head of real estate Christopher Myrvold. The property is located near the northeast corner of Broadway E. and S. Tamiami Trail says Premier, which represented the seller CH Estero Land Limited Partnership. In April, the Village of Estero’s planning, zoning and design board approved plans for 310 multifamily units and 30,000 square feet of commercial use on the site. The project, according to staff report, will include a public park and walking trails and other private amenities. The report says there also are plans for 10 townhomes and two future commercial lots.

Housing help: A new affordable housing development has opened in Port Charlotte. The $20.2 million complex is at 1250 Loveland Blvd. near Kings Gate, and is made up of 88 units — 46 one-bedroom and 42 two-bedroom apartments. Prolific affordable housing developer Blue Sky Communities out of St. Petersburg built the complex, Jacaranda Place, according to a statement. Funding came from several sources, including the Florida Housing Finance Corp., Raymond James Affordable Housing Investments and Charlotte County. Blue Sky was founded in 2012 and has completed more than 20 affordable housing complexes and is working on several more.