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Commercial
South Florida

Miami firm brokers $12.5 million sale of Naples rentals

Jade at Olde Naples, 330 11 Street North in Naples
Jade at Olde Naples, 330 11 Street North in Naples

Miami-based Whitehall Realty Group handled the sale of a 104-unit apartment property in downtown Naples for $12.3 million.

The buyer, Jade at Olde Naples I LLC, paid $118,269 per unit for the nine-building apartment complex at 330 11 Street North, called Jade at Olde Naples.

The seller, Jade at Olde Naples LLC, is an affiliate of Bleu Lion, and its principals are Yoni Benimetzky, Carlos Castillejo & Elad Kohen.

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“The seller performed a full renovation of the property, completed in 2015,” broker Devlin Marinoff of Whitehall Realty Group said in an email.

“The buyer has made several acquisitions on the east coast of Florida and excited to expand their holdings to the west coast markets with this first acquisition in Naples,” said Marinoff, who handled the deal with his colleague David Spitz at Whitehall Realty.

The entity that bought the Naples apartment property is a partnership of Corridor Ventures, Normandy Lane Partners and JSS & Associates LLC.