…remains committed to SWFL
Steve McQuilkin and Laura Layden | Fort Myers News-Press
In a strategic move, Hoffmann Commercial Real Estate has sold virtually all of its real estate holdings in downtown Naples.
The company confirmed the sale of 27 properties in its portfolio to M Development, a high-end developer headquartered in Aspen, Colorado, on Friday, as rumors swirled about the pending deal.
The historic sale is expected to close Monday. The purchase price wasn’t disclosed, but it’s sure to be huge, with some observers speculating the deal could be valued at upwards of $250 million.
“We made a lot of money. The company was well capitalized before. We don’t have any immediate plans for the capital. We’ll probably put it in a treasury bond,” commented David Hoffmann, the founder of Hoffmann Commercial Real Estate, and the Hoffmann Family of Cos., headquartered in Naples.
The Hoffmanns, however, do plan to continue their investments in Naples and Southwest Florida, and in other parts of Florida, and the rest of the country and world. The focus has shifted more toward buying up businesses, which often come with real estate – sometimes significant real estate.
The family still has significant real estate and business holdings in Southwest Florida, from the Hertz Arena in Estero to the Old Collier Golf Club in Naples.
Find a home in Southwest Florida. Contact David at David@DavidFlorida.com or 239-285-1086.