Media Contact: Public Relations, pr@interfaceproperties.com 

INTERFACE PROPERTIES ACQUIRES BRANTLEY PINES APARTMENTS IN FORT MYERS, FLORIDA, FOR $57 MILLION 

FORT MYERS, FLORIDA – July 1, 2024 – Interface Properties, led by Ken Goodman and Zac Goodman, is pleased to announce the acquisition of Brantley Pines Apartments, a 296-unit apartment community in Fort Myers, Florida. Berkadia’s team, led by Senior Managing Director Mitch Sinberg and Vice President Michael Basinski, secured a $39.9 million acquisition loan from Freddie Mac with Green environmental benefits.

Built in two phases (1988 and 1997), Brantley Pines boasts low density garden style apartment homes with its 30 acres of greenery, lakes, and lakeside views. Additional amenities include a 24-hour fitness center, BBQ grills, pickleball courts, a dog park, and more. Interface Properties plans to build on this foundation with renovation of its 1-, 2-, and 3-bedroom units, the addition of a lakeside walking path, enhancement of the clubhouse and pool, landscaping replacement, a new multi-faceted poolside common recreational area, and more.

Despite the economic headwinds and the sharp rise in interest rates from the point of contract execution through closing, Interface Properties is proud to have successfully closed the transaction with no adjustments to the original contract price.  Interface looks forward to executing its value-add objectives for all stakeholders as it continues to pursue similar opportunities in the immediate vicinity and elsewhere throughout the Southeast US.  

About Interface Properties™

Interface has developed, re-developed, and acquired retail, medical office, industrial, hospitality, and multi-family properties in 24 states. Management has included over 200 properties, 8 million square feet, and over 40 national retail brand tenants. Its retail experience includes freestanding quick service restaurants, shopping centers, gas stations, “big box” centers, and more; its medical office and industrial experience is very customary for the asset class; and its multi-family experience consists of short-term rentals, student housing, and traditional market rate apartments.

For over 30 years Interface has relied upon its implementation of emerging technologies, alongside its traditional boots-on-the-ground approach. In doing so, the Company has been able to penetrate more markets nationwide and operate efficiently with an expedited rate of deal flow across 24 states and within a range of numerous asset classes.

• 296 units

• Acquisition: $57,000,000

• Agency Debt: $39,900,000

• Fort Myers, FL