Naples, FL — The Hoffmann family, renowned for their efforts in transforming the Augusta area into a national wine destination, has recently completed a significant transaction involving their real estate holdings in downtown Naples, Florida. The family, operating through the Naples-based Hoffmann Family of Companies, sold 30 properties, encompassing a total of 242,000 square feet from their retail portfolio.
The majority of these properties, specifically 27, were acquired by M Development, a high-end developer based in Aspen, Colorado. The remaining properties found new owners in tenants who exercised their right of first refusal, opting to purchase the properties they occupied, as reported by The Real Deal.
This sale marks a monumental shift in the Hoffmann family’s business strategy. Previously focused primarily on real estate, the family has in recent years pivoted towards investing more in businesses. This transaction, the largest in the company’s history, is a testament to this strategic shift.
Despite this significant sale, the Hoffmann family maintains ownership of over 20 properties in the Naples area, continuing their presence in the region’s real estate market.
For more details on this story, readers can refer to the full article from the St. Louis Business Journal.
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