2 Locations

THE ASSETS: Palm Villas is a sixty-four (64) unit residential community composed of six (6) Studio units, twenty-three (23), 1-Bedroom/1-Bathrrom units, and thirty-five (35), 2-Bedroom/1-Bathroom units spread across four (4) two-story residential buildings with a total of 45,825 square feet of living area on 5.14-acres of land. The well-maintained and professionally managed community includes a management office, pool, recreation areas, an on-site laundry facility, ample on-site parking and abundant green space for residents. The Property offers direct entry units that feature spacious units.

The Residences at Page Park is composed of seventy (70), 3-Bedroom/2 Bathroom residential units spread across seven (7) two-story residential buildings with a total of 96,600 square feet of living area on 9.79-acres of land. The well-maintained and professionally managed community includes a leasing office, ample on-site parking, and abundant green space for residents. The Property offers direct-entry units that feature walk-in closets, private patios or balconies, stainless steel appliances, air-conditioning, granite countertops, and in-unit washers and dryers. The Residences at Page Park also offers a value-add component through the development of additional units on the Property’s excess land.

VALUE-ADD POTENTIAL: The current rents at both Properties are significantly below market. The opportunity exists to increase rents to market rates in a highly sought after and supply-constrained residential market. The Residences at Page Park also offers a value-add component through the development of additional units on the Property’s excess land.

SEPARATELY METERED UTILITIES: Each unit is separately metered for electricity (heat, air-conditioning, and hot water), which the Tenants pay directly. The landlord is responsible for common area electric and water and sewer, which is paid by the Landlord.

PROPERTY AMENITIES: Palm Villas offers spacious, well-maintained direct-entry units, a pool, recreation areas, an on-site laundry facility, ample on-site parking, and abundant green space for residents. The Residences at Page Park offers spacious, well-maintained units that feature full kitchens with dishwashers, in-unit washer and dryers, oversized closets, and private patios or balconies. The community includes ample on-site parking, green space, and an on-site leasing office.

DESIRABLE LOCATION: Palm Villas and The Residences at Page Park are well positioned in the Page Park neighborhood of Fort Myers. The community is surrounded by similar condominium complexes and apartment communities as well as single and multi tenant residential properties and offers a quiet rural setting. The Properties provide convenient access to Fowler Street, McGregor Boulevard (SR 867), Metro Parkway, and Cleveland Avenue (US Route 41), the area’s primary commercial and commuter corridor. The Properties are also close to 6 Mile Cypress Parkway and Interstate 75 and are approximately 5 miles from downtown Fort Myers and Cape Coral and 10 miles from the Fort Myers beaches.

ACCESS TO AREA AMENITIES: The Properties are situated five miles south of downtown Fort Myers and are 0.5 miles from Cleveland Avenue (US Route 41). The locations offer convenient access to an array of amenities including the Edison Mall, grocery stores, national restaurants and retailers, local businesses and services, and numerous bars and cafés. Additionally, the area is home to the Southwest Florida International Airport, the Gulf of Mexico, Estero Bay and the Estero Bay Preserve State Park, and San Carlos Bay and Bunche Beach Preserve, which are home to a variety of outdoor recreational activities, and countless golf courses.

STRONG HIGHER EDUCATION PRESENCE: Palm Villas and The Residences at Page Park enjoy convenient access to several colleges and universities including Florida Southwestern State College, Florida Gulf Coast University, Nova Southeastern University – Fort Myers Campus, Fort Myers Technical College, Southern Technical College, Hodges University, Keiser University and Kairos University.

DEMOGRAPHICS: More than 66,300 people live within 3 miles of the Portfolio with an average household income of $101,700. An impressive 149,800 people live within 5 miles of the Portfolio with an average household income of $112,592.