Introducing the Venetian Apartments Listing
JBM Institutional Multifamily Advisors has proudly announced a new exclusive listing for the Venetian, a striking Class A trophy asset. This two & three-story garden-style property has been meticulously designed, featuring brand new barrel tile roofs. The Venetian represents a significant investment opportunity composed of 436 modern units, each averaging 928 square feet, set elegantly on 23.44 acres of beautifully landscaped grounds.
Investment Highlights
Assumable Debt
The deal comes packaged with attractive financial features, including stellar assumable debt that boasts an impressive ~72% loan-to-value ratio. The financing terms consist of 8.5 years remaining, with a competitive interest rate of 5.16%, plus a full-term interest-only payment structure. This unique financial arrangement offers potential investors a robust return profile, along with an in-place SB102 ('Live Local') tax abatement for 85 units, providing a substantial 75% reduction in ad valorem taxes.
A Call For Offers
Interested buyers should take note, as JBM has set a Call for Offers date for March 13. This presents a timely opportunity for investors to engage in the bidding process for a property that stands out in the market.
Amenities That Elevate Living Standards
The Venetian is not just about residential spaces; it offers a luxurious resort-like amenity package designed for an upscale lifestyle. Residents can enjoy a picturesque lakeside pool complete with a hot tub, expansive decking for sunbathing, and plenty of lounging areas. The grand clubhouse serves as a central social hub, featuring a community lounge with a cozy fireplace, a game room, a business center, and a modern coffee station perfect for morning gatherings.
Additional Features
Outdoor amenities further enhance the community experience, including a waterfront gazebo outfitted with grilling stations, two 24/7 fitness centers that cater to various workout preferences, and a large fenced-in dog park alongside a pet spa. To top it off, the property recently had new barrel tile roofs installed in 2024, ensuring its aesthetic remains contemporary and appealing.
Unit Features
The Venetian apartments are thoughtfully designed, offering a diverse range of one, two, and three-bedroom options. Each unit maximizes space with open-concept floor plans, complete with modern kitchens that feature stainless steel appliances, designer lighting, and elegant granite countertops. Additional details such as modern two-tone cabinetry, luxurious faux wood plank flooring, and in-unit washers and dryers make living in the Venetian a truly upscale experience.
Strategic Location
Strategically positioned, the Venetian boasts excellent connectivity along Winkler Avenue, with major intersections leading to Colonial Blvd and Veronica S Shoemaker Blvd. Conveniently located less than two miles from The Forum, a bustling retail power center that includes major stores like Target and Home Depot, the property is also less than half a mile from Lee Health's newly opened $434 million hospital, enhancing its appeal for residents and investors alike.
About JBM
With over 70% market share in the Southwest Florida region, JBM stands tall as the #1 ranked boutique brokerage firm in the U.S.A. According to national multifamily broker rankings by Green Street for 2024, JBM holds the title for the highest average sold price per transaction. The firm has facilitated lifetime transactions totaling over $20 billion and encompasses more than 172,000 units, underscoring its prominence in the real estate industry.
Frequently Asked Questions
What type of asset is the Venetian?
The Venetian is a Class A trophy asset consisting of two and three-story garden-style apartments.
What financial highlights does the Venetian offer?
The Venetian features assumable debt with a ~72% LTV, a 5.16% interest rate, and an in-place tax abatement for eligible units.
What amenities does the Venetian provide?
The property offers a lakeside pool, clubhouse, fitness centers, a dog park, and much more for residents to enjoy.
Where is the Venetian located?
The Venetian is located on Winkler Avenue, conveniently accessible to major roads and nearby retail centers.
Who manages the leasing for the Venetian?
The leasing and management are handled by JBM Institutional Multifamily Advisors, known for their extensive experience in the market.
