Multiple SVN offices work together to manage Magnolia Pond sale involving 43.4 acres approved for apartments
Sarasota, Fla. (June 10, 2019) – SVN Lotus, with offices in Charlotte and Sarasota counties, has closed the $8.85 million Magnolia Pond land deal in a collaborative effort with advisors from SVN KOVA offices in Naples and Fort Myers. The 43.4 acres in Naples are approved for construction of 434 apartment units.
The buyer is a prominent owner of apartment properties, the seventh-largest in the United States.
“Once our SVN Lotus office connected with the SVN KOVA team, everything came together quickly on this deal,” said Ron Zeigler, senior advisor for SVN Lotus. “The property wasn’t publicly listed, but our relationships and inside knowledge about the area allowed us to locate this opportunity right away. Within a day, I was able to present it to the buyer – an extremely good outcome for everyone involved.”
Naples and the surrounding Collier County region is enjoying strong growth in apartment development, said Bryan Flores, an advisor with SVN KOVA in Naples. “It’s such a hot market right now for this kind of development and construction,” said Flores, who collaborated on the Magnolia Pond deal. “There’s just a lot of economic activity going on right now in the area, so demand is high. The buyer was pleased we were able to locate this acreage so quickly.”
This transaction is a prime example of how SVN offices provide value by working in concert to bring a buyer and seller together. “The buyers contacted Ron Zeigler looking for a property appropriate for their needs,” said Bryan Myers, an advisor with SVN KOVA in Fort Myers. “I got Bryan Flores involved and before we knew it, we found this property and realized its potential. That kind of teamwork gives us a distinct advantage in this market.”
The three advisors involved in the Magnolia Pond deal are also members of the SVN Land Alliance, where the collaboration began to locate the acreage.