Starwood Capital Group has closed on the purchase of the Gulfstream Isles apartments in Fort Myers. The 936 unit community is spread across 42 buildings on a 39.3 acre site at 1601 Red Cedar Dr. Completed in three phases, the property features four swimming pools, three tennis courts, clubhouse, fitness center, media room, and a business center. Holliday Fenoglio Fowler represented the seller, Waterton, a real estate investment company focused on hotels and multifamily properties. HFF also secured a a 10-year, floating-rate loan through Freddie Mac on behalf of Starwood Capital. The securitized loan will be serviced by HFF, which did not disclose the loan amount or sale price. At the time of the sale the asset was 95 percent leased.
