The Real Deal Miami

New York-Florida partnership takes 336 units in Bradenton

June 08, 2011 09:55AM

New York-based Atlas Real Estate Partners and Florida’s Andover Real
Estate Partners have jointly purchased Sawgrass Cove Apartments, a
336-unit complex in Bradenton. The purchase was financed by a 10-year,
fixed-rate loan. The seller, Equity Residential, was represented by
Hendricks & Partners. The complex is currently 97 percent full.
Atlas and Andover plan to expand their Florida portfolio over the next
two years. TRD