Manatee County apartment complex sells for $38M

A Wisconsin-based company paid $212,111 per unit for The Point at Bella Grove, which opened last year

Miami /
Jul.July 22, 2018 04:00 PM

The Point at Bella Grove (Credit: Apartments.com)

The $38 million sale of a new apartment complex in Manatee County is part of a flurry of high-priced sales of rental housing developments in southwest Florida.

A company allied with Bayside, Wisconsin-based Katz Properties Inc. paid $211,111 per unit for The Point at Bella Grove, a 10-acre complex of four-story apartment buildings with 180 units.

Monthly rents for the one-, two- and three-bedroom apartments range from $1,229 to $1,839. Among the common-area amenities are a gym, swimming pool and clubhouse.

The seller of the property, Waypoint Residential LLC of Atlanta, developed The Point at Bella Grove, which opened last year in southern Manatee County. It is west of Tuttle Avenue and north of University Parkway.

Recent high-price sales of rental properties in southwest Florida include the $54.7 million sale of Anson on Palmer Ranch, a 248-unit apartment complex in Sarasota.

In the last two years, other rental properties in the region that sold at eight- and nine-figure prices include 900-unit Carlton Arms of Bradenton ($110.5 million), 360-unit Echo Lake in Lakewood Ranch ($76.1 million), 392-unit Yacht Club at Heritage Harbor ($70.5 million) and Tuscany Apartments in Sarasota ($70.5 million). [Sarasota Herald-Tribune]Mike Seemuth


Related Articles

arrow_forward_ios
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
Renderings of Venus with Erik Rutter and David Weitz (ImageFiction)
Carpe secures approval for North Miami Beach mixed-use apartment project
Carpe secures approval for North Miami Beach mixed-use apartment project
From left: Damien Barr and Ned Grace of NDT Development; Joe Furst of Place Projects; a rendering of the planned redevelopment of the Nora District in downtown West Palm Beach (ArquitectonicaGEO, Place Projects, NDT Development)
West Palm developers secure capital partner for Nora District projects
West Palm developers secure capital partner for Nora District projects
(ONE Sotheby's Realty)
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
6315 11th Ave Gulfport (iStock, Heckler Realty Group, Illustration by Shea Monahan for the Real Deal)
Tampa-area home billed as first in US to be sold as an NFT
Tampa-area home billed as first in US to be sold as an NFT
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...