Coastal Village FGCU Student Housing Is For Sale
Coastal Village, a purpose-built student housing community for FGCU in Fort Myers, Florida was just listed by JBM Institutional Multifamily Advisors. The off-campus student housing community is comprised of 200 units (800 beds) averaging 1,384 square feet.
Each of the Fort Myers based Coastal Village units features a fully furnished, 4-bed/4-bath layout. Amenities include a resort-style pool with an expansive sun deck, 24-hour fully equipped fitness center overlooking the pool, valet trash, grilling stations, hammocks along the lakeside walking trail, and more. The students have access to private shuttles that run directly to and from the university. The clubhouse is comprised of study rooms, a computer lab with free printing, a media room, high-speed internet, coffee bar and lounge areas.
New Students Coming To Coastal Village
What to expect? Likely no immediate change. The property was listed but current ownership remains. If you have a lease, there should be no change, except for the price increase you’re already aware of. According to JBM, Coastal Village rent has gone up 11.2% over the prior year, which seems to be the norm for Southwest Florida. Trended rent is projected to be $813 a bed and the Property is over 93% pre-leased for Fall 2024. Full term classes at FGCU begin on August 24th.
There’s no cause for alarm for incoming students. These types of transactions are fairly common. One word of advice is to learn the shuttle schedule, parking at FGCU can be difficult.
It is quite clear that real estate is still booming in Southwest Florida.
The listing agency, JBM, also has Laguna Caribe in Fort Myers available, as well as the new construction project Vintage Naples, Florida. The all new Bellavista at Vanderbilt Way in Naples is under contract at the firm.
