#United States #Fort Myers #JBM Advisors #Coastal Village #FGCU

JBM Brokers the Sale of Coastal Village

JBM Institutional Multifamily Advisors has recently finalized the sale of Coastal Village, an impressive student housing community catering to students of Florida Gulf Coast University (FGCU). The transaction amounts to a staggering $72,350,000, which translates to $361,750 per unit and $90,438 per bed. This contemporary property, constructed in 2004, consists of 200 units that collectively provide shelter for 800 students, creating a vibrant community within its three-story structure.

Property Overview

Occupying roughly 21.29 acres, Coastal Village is one of the three designated student housing communities specifically designed for FGCU students. JBM's involvement in the transaction further accentuates its reputation as a strong player in the multifamily real estate sector, cumulatively handling over $334 million in transactions with CAPREIT, the buyer in this instance.

Features and Amenities

The community boasts an array of amenities tailored for the modern student lifestyle. Residents have access to a resort-style swimming pool, a fully equipped fitness center open 24/7, valet trash services, grilling stations, and tranquil lakeside hammocks. Additionally, the clubhouse features study rooms and a computer lab with free printing, alongside a media room, high-speed internet, a coffee bar, and lounge areas designed for relaxation and networking.

Each unit is logically designed with a floorplan promoting full bed/bath parity, accentuating the space available for student living. These units are fully furnished in a 4-bed/4-bath configuration, with various levels of upgrades. The most recently renovated units highlight high-end features such as granite countertops, stainless steel appliances, and modern interior finishes including faux wood plank flooring and brushed nickel hardware.

Location and Accessibility

Coastal Village is strategically located about a mile from FGCU, providing students with convenient access to their academic needs. The property enjoys superb connectivity to Interstate-75, enhancing the residents' accessibility to nearby retail options such as Miromar Outlets and Gulf Coast Town Center, both located within a few short miles. The well-planned location not only benefits residents but also aligns with the continuous growth of student enrollment at FGCU, which has witnessed an increase exceeding 11% since 2019.

Profile of FGCU

With a current enrollment exceeding 16,000 students, FGCU is notable for offering one of the highest graduate employment rates among Florida state universities. This reflects positively on Coastal Village as it provides an ideal living environment for students committed to their academic pursuits and career readiness.

About JBM Advisors

Renowned for holding a commanding market share of over 70% in Southwest Florida, JBM Advisors stands as the top-ranked boutique brokerage firm in the entire United States. According to Green Street’s 2024 national multifamily broker rankings, JBM is recognized for achieving the highest average sold price per transaction nationally for four consecutive years. The firm has successfully managed transaction volumes exceeding $20 billion, further solidifying its stature within the real estate investment community.

JBM’s commitment to excellence and deep understanding of student housing dynamics places it in a favorable position to continue facilitating significant transactions in this sector, making it a company to watch as the real estate market evolves.