August 30, 2013

CRC Purchases Aventine at Naples Apartments for $44M


Baltimore-based real estate developer Continental Realty Corp. purchased the 350-unit Aventine at Naples apartments for $44.25 million. The price equated to $126,429 per unit.

The garden-style development features 77 one-bedroom, 181 two-bedroom, and 92 three-bedroom units. The average unit size is 1,114 square feet. Occupying a 36.96-acre parcel, the development was 96% occupied at the time of the sale.

Business Observer