In a surprising turn of events, the foreclosure auction for the Prima Luce project property in downtown Fort Myers, Florida, concluded with a $100 bid. Despite the nominal bid, the auction did not generate additional interest, leaving the plaintiff as the sole bidder. However, this does not mean the project is financially in the clear, as the $100 bid does not cover the property’s significant debt.
The Prima Luce project, a luxury waterfront condominium development, is spearheaded by Bob Macfarlane. According to Macfarlane, a new partnership is in place to address the remaining $36 million in debt owed on the property. The deal is expected to pave the way for the continuation of the much-anticipated waterfront development.
As the Lee County Clerk’s Office reported, the right of redemption was terminated with the issuance of the certificate of sale, marking the conclusion of the foreclosure process. Now, with the debt cleared and new financing in place, the project is expected to move forward into its next phase, eventually bringing luxury waterfront condos to Fort Myers’ downtown area.
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