Fort Myers Apartment Complex Sale Tops $2M

FORT MYERS, FL-PMA Equities LLC of Long Island, NY, paid $60,000 per unit for Lakes Park Apartments and is planning upgrades and a rent increase. The seller was L. Dupre III of Fort Myers, who owned the property as an investment.

By Melissa Bogdany | June 03, 2004 at 11:02 AM

The property was an investment for Dupre. He had owned it for a while and was ready to move on to a new investment, says Gary Tasman of Grubb & Ellis|VIP, who represented both PMA Equities and Dupre in the transaction.

PMA Equities also bought the complex for investment purposes. The company plans to upgrade and improve the property, making mostly cosmetic changes, and increase the rents, says Tasman. Lakes Park Apartments, built in 1987, features a clubhouse and a pool.

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