Fort Myers, Fla., Dec. 2, 2020: Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of The Edison, a brand-new 327-unit A+ multifamily community located in Fort Myers, Fla.
Completed in 2020, The Edison offers one, two and three-bedroom apartment homes with rental rates ranging from $1,395 to $2,095. The newly-acquired community is 93% occupied and will be managed by Fogelman.
Fogelman and LIV Development acquired The Edison through a joint venture with New York-based DRA Advisors. Since 2003, the Fogelman-DRA partnership has acquired 33 multifamily communities totaling more than 11,000 apartment homes, with an aggregate value of more than $1.5 billion.
“We’re thrilled to further expand our longstanding partnership with both DRA Advisors and LIV Development and enter the Fort Myers submarket with the highest quality multi-family community in the MSA,” says Mike Aiken, SVP of Investments for Fogelman Properties. “Southwest Florida continues to benefit from national migration patterns favoring the Sunbelt, with the lower cost of living coastal areas seeing outsized growth.”
Fogelman Properties (Fogelman) is one of the country’s largest and most experienced privately-
owned multifamily investment and property management companies. As a fully integrated
company, Fogelman specializes in multifamily acquisitions, property management, construction
management, and asset management. Founded in 1963, Fogelman operates 88 multifamily
communities totaling 28,000 apartment homes spread across 10 states in the Southeast, Southwest
and Midwest. For more information about Fogelman, please visit www.fogelman.com or follow us
on Facebook, Twitter and Instagram.
For further information, please contact:
Julie Parrotta, BCENE Public Relations