A major multifamily transaction just landed in Naples, underscoring the resilience and investor interest in the rental-housing sector down here. New York investment firm Sharp Key Capital has acquired two apartment communities in the Golden Gate area of Naples, buying a combined 351 units for a total of $62.9 million.

The larger of the two deals involves the 288-unit property known as Coral Palms, located at 4539 Coral Palms Lane near Sunshine Boulevard. Built in 1987 and positioned on about 18 acres, the property was purchased for $50.4 million.

The smaller acquisition is a 63-unit community called Residence on 16th at 5194 16th Place SW, built in 2000 and situated on approximately 5.2 acres. That property sold for

What the buyer plans

Sharp Key Capital has signaled that the properties will receive capital improvements. For Coral Palms, the focus is on exterior upgrades and aesthetic enhancements. For Residence on 16th, the plan is to attend to operational repairs and common-area improvements.

Additionally, the acquisitions were financed through bank loans: approximately $44 million for Coral Palms (maturing October 2028) and about $8.7 million for Residence on 16th (maturing April 2027).

Why this matters for the Naples market

  • The transaction highlights strong investor appetite for multifamily assets in Naples — a market often dominated by luxury single-family homes and seasonal second-homes.

  • With 351 units under new ownership and capital plans in motion, nearby vendors, service providers and property-management firms may see increased demand for upgrades, amenities and maintenance.

  • For local real-estate professionals and landlords: this signals confidence in rental-housing fundamentals (occupancy, rent growth) in Collier County, which may also impact new-construction planning, land-use considerations and investment strategies in multifamily.

Local business takeaways

Real-estate brokers should note the premium being paid for older assets that are well-positioned and ripe for repositioning. Commercial-service providers—contractors, landscapers, amenity-vendors—should view this as a green-light that capital is flowing into multifamily upgrades in Naples. Meanwhile, developers should monitor whether this deals spurs new multifamily supply or conversions in the market.