A partnership between Woodfield Development and ELV Associates has acquired the vacant 45.6-acre site across from the Coconut Point Mall in Estero, a village in Lee County, Fla., for $32 million.
Lee Memorial Health System is the seller of the property.
“We are extremely excited about this opportunity. The end result is going to be a spectacular place for the community to live, work and play. We are collaborating with world class architects Dover, Kohl & Partners Town Planning and Humphreys & Partners Architects,” said Ross Abramson, who oversees multifamily development for Woodfield in South Florida.
Woodfield Development, a South Carolina-based developer, looks to build up its portfolio in Florida. Woodfield has been a major developer of luxury apartments since 2005, in markets from South Florida to Washington, D.C., as well as Texas and Tennessee. ELV Associates is a privately held real estate investment and management company established in 1990
