Coastal Village, one of the only three apartment complexes devoted to Florida Gulf Coast University students, just sold for $72.35 million.

CAPREIT, a North Bethesda, Maryland-based full-service owner and operator of multifamily apartment communities, bought the 200-unit, 800-bedroom, three-story building from Columbus, Ohio-based Coastal Ridge.

“It was 100% leased at closing,” said Jamie May, president of JBM, which brokered the deal.

May has been brokering apartments for Coastal Ridge for 20 years. They have combined to do $350 million worth of sales, he said.

The 200 units built in 2004 on 21.29 acres off Three Oaks Parkway, just north of Estero Parkway, a mile from FGCU, sold for an average of $361,750 per unit, or $90,438 per bed.

“Every unit is a four-bedroom suite,” May said. “Every room has its own bath. All of the floor plans have the same layouts. It’s concrete block. It has different levels of upgrades. There’s definitely a lot of upside for the buyer who just bought it.

“We’ve sold this one before. We got it back, which is great.”

Coastal Ridge still owns the Reef Student Living, just south of Coastal Village, while Miromar owns Residences at University Village off Ben Hill Griffin Parkway. Those are the only other two apartment complexes devoted to FGCU students.

“First of all, there’s just not enough housing for FGCU,” May said of why these properties are deemed valuable. “They’re typically 100% leased. It was a great opportunity for the buyer to continue the ongoing interior renovations. It’s a nice return on investment for upgrading the interiors.

“The new buyer will have the opportunity to improve the interiors.”

Coastal Village amenities include a 24/7 fitness center, a pool and a private shuttle that takes students to FGCU’s campus, lakeside hammocks and a clubhouse with study rooms, a media lab and high-speed internet.