Skip to main content

The new owners of the 63 Opus apartments in Naples have received an acquisition loan of $11.9 million.

The apartment complex, at 16th Place SW, was purchased by Great America Holdings in Miami for $15 million, according to Berkadia, which arranged the loan.

Berkadia says Cohen & Company is behind the three-year, $11.94 million variable-rate loan. Of this amount, $11.25 million is in seed funding and $693,000 in future funding.

Opus, which is in the Golden Gate section of Naples, is made up of studio, two-bedroom, and three-bedroom apartments that range in size from 450 square feet to 1,600 square feet. Prices were not available on the resort’s website or listed on

At a time when multifamily properties seem to be trading for upwards of $100 million on a fairly regular basis, the $15 million price tag for Opus apartments is likely to result in double takes. But at $238,095.24 per unit, the price is on par with the market.

Data from Real Capital Analytics reveals that the average sale price for multifamily properties in Southwest Florida last year was $229,780 per unit. The average has increased this year, but not so much that this purchase was a bargain.