Multi-family rental complexes have been a hot commodity in Manatee County during the past year, with the latest transaction attracting a price of more than $100 million.
Carlton Arms of Bradenton, a 900-unit waterfront complex that borders the Manatee and Braden rivers, was purchased by Jupiter-based real estate development and management company FLF Holdings for $110.5 million.
According to a news release, Carlton Arms – with rents ranging from $793 to $1,250 a month – was nearly fully leased at the time of the transaction
Significant upgrades are planned.
During the past year, some of the notable Manatee County multi-family housing sales include:
▪ The 360-unit Echo Lake Apartments at Lakewood Ranch, 11502 Echo Lake Circle, sold for more than $76 million.
▪ The 376-unit Champions Walk apartment complex, 4148 53rd Ave. W., sold for $58 million.
▪ The 264-unit Lost Creek at Lakewood Ranch, 11140 Lost Creek Terrace, sold for $50.5 million.
▪ The 103-unit Bradenton Reserve Apartments, 6050 34th St. W., sold for $19 million.
▪ The 152-unit Preserve at Manatee Bay, 5901 28th Ave. W., sold for $18.75 million.
▪ The 196-unit Palmetto Trace Apartments at 708 Second Ave. E., sold for $18.7 million.
▪ The 178-unit River Trace Apartments, River Trace Circle, sold for $15,949,500.
▪ The 254-unit Avalon Square Apartment Homes, at 3506 14th St. W., sold for $11,988,000.
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