Cobblestone on the Lake 186 Units sold for 21 Million February 2019

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Services for Real Estate Pros

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, brokered the $21.3 million ($114,245 per unit) fractured sale of Cobblestone on the Lake, a 290-unit community in Fort Myers, Fla. The sale took place on February 7tth, 2019.  The deed transfer was handled by Charles Serfaty, Esp of the Serfaty Law PA based in Miami, FL. Gestion Sebring sold part of the garden-style property. ESG Kullen of New York purchased 186 units, thus gaining complete control over the condominium association. The acquisition includes 144 rent-ready units and 42 apartments in shell condition, which are set to undergo renovation.  The Cobblestone Owner LLC acquired a mortgage from Pembrook Cobblestone Lender LLC in the amount of $24,876,672/00/ 

Property Address: 
CORTINA CIR FORT MYERS FL

Built in 2009, Cobblestone on the Lake consists of 13 garden-style buildings with one-, two- and three-bedroom models ranging from 764 square feet apartments to four-story townhomes spanning 1,835 square feet with ground-level private garages.

 

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