Chicago Pacific Founders Acquires Summit of Fort Myers in Florida

FORT MYERS, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Summit of Fort Myers, a 136-unit independent living community in Fort Myers.

The property was previously known as Grand Villa of Fort Myers. The name change reflects the change in ownership, as well as the new operator, Grace Management. CPF also plans to implement improvements at the property.

The Summit of Fort Myers is located in the Cypress Lake community, close to shopping areas, restaurants, medical facilities, and indoor and outdoor recreation.

Senior Living Investment Brokerage represented the seller, Valstone, which spent $7.2 million since 2015 to convert the property from condominiums to rental apartments. Additional terms of the deal were not disclosed.