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NYC-Based Firm Buys 189 Units of Fractured Fort Myers Condo Property

New York City-based ESG Kullen, which is active in the South Florida distressed and value-add multifamily investment markets, secured $33 million from Pembrook Capital Management LLC of New York City in connection with the deal.

Cobblestone on the Lakes, Fort Myers, FL Cobblestone on the Lakes, Fort Myers, FL

FORT MYERS, FL—Sponsor ESG Kullen has acquired 189 units and the majority ownership at the Cobblestone on the Lakes fractured residential condominium property here.

New York City-based ESG Kullen, which is active in the South Florida distressed and value-add multifamily investment markets, secured $33 million from Pembrook Capital Management LLC of New York City in connection with the deal. The financing consists of a $24.9-million first mortgage bridge loan and an $8.1-million preferred equity investment.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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