Inland Private Capital Corporation (IPC), a real estate investment manager based in Oak Brook, has successfully sold Brantley Pines, a multifamily property located in Fort Myers, Florida. The sale was facilitated by IPC’s subsidiary as the asset manager for Fort Myers Multifamily DST, one of its 1031 investment programs.
Brantley Pines is situated at 1801 Brantley Road and comprises of 296 units spread across 19 two-story residential buildings. The transaction resulted in an impressive equity multiple of 1.37x for investors (calculated based on the total original capital invested).
According to Keith Lampi, President and CEO of IPC: “We acquired this property back in 2019 and with our proactive asset management approach we were able to achieve above-average occupancy rates and increase net operating income significantly. This led to a profitable sale with an internal rate of return of 6.45 percent for our investors.”
The article originally appeared on Connect CRE.
