Coastal Village Apartments-Student Housing sold for $72,350,000 in January 2025. CV Fort Myers-Tilden Coastal Investors LLC sold the property to Tilden Coastal Village Investors/Tamiami Coastal LTD/BCP(Barron Collier Properties) Coastal Village LLC. TD Bank NA provided the Mortgage Agreement Loan in the amount of $43,350,000.
Deed Instrument #2025000022286
Mortgage Instrument #2025000022288
The vacant land was owned by Co-Trustees RQ Richards, III and Frank Diplacido who sold it 1988 to the "Land man", Robert Barber, with assistance from Morton Goldberg & Pete Gravina of Pavese, Garner, Haverfield, Dalton, Harrison and Jensen Law Firm. The epic group of investors had a vision for Estero, once home to the Koreshans, who believed it was the center of the universe. Books have been written about the parties above, and how Estero was designed to be a community with a unique quality of life, distinct character, diverse housing, economic, recreational, and social opportunities by protecting natural resources, the environment, and lifestyle. The current ownership group BCP~Barron Collier Properties are known around the globe for their massive portfolio of diverse investments, which logically amalgamates this uniquely designed housing option.
Prior sales of the housing project took place in June 2018 for $44,000,000, January 2015 for $32,000,000, August 2006 for $21,500,000, December 2004 for $20,025,000.
The land was purchased and sold in 1988 by the group described above, in March 1999 for $1,175,000, January 2003 for $2,200,000, and in April 2003 to the Lely Development Group, who ultimately constructed the premiere student housing option that accommodated off-campus living for the students of Florida Gulf Coast University.
To give context to why this is such a noteworthy project, other names in the chain of title include the 131 Group, Lely Development, and Alico Inc. Alico Inc. at the time was led by Ben Hill Griffin Jr. (October 10, 1910 – March 1, 1990), a prominent American businessman, citrus producer, politician, and philanthropist. In 1992, the FGCU Board of Regents selected the 760-acre site donated by Ben Hill Griffin III and Alico, Inc., to build the university. Florida Gulf Coast University/FGCU was founded in 1991 as Florida's 10th state university, and classes began in August 1997.
Tip of the hat to all those individuals and entities involved from the genesis of the project to modern day!
Coastal Village offers off-campus student apartments near FGCU, and is just a short commute to the Florida Gulf Coast University campus. The Coastal Village community features fully furnished 4-bedroom apartments leased "by the bed" with a washer and dryer included, free high-speed internet, private room locks, large closets, ceiling fans, and lake views.
According to the Coastal Village website, the current rental price per "unit" per month is between: $830 - $870
Address:
19401 SKIDMORE WAY
ESTERO FL 33967
https://gocoastalvillage.com/
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