Passco, a real estate investment firm, recently sold a 400-unit rental property in Bradenton, Florida for $102 million. The buyer was Goldelm. Passco originally purchased the property known as ParkCrest Landings in 2016 for $75 million.
This is the second time that JBM Multifamily Advisors has facilitated the sale of ParkCrest Landings since its completion in 2015.
ParkCrest Landings consists of 17 buildings spread across two and three stories. The units range from one to three bedrooms and offer floorplans between 612 and 1,404 square feet.
As a Class A property, ParkCrest Landings boasts various amenities including a fitness center, clubhouse, business center,and volleyball court. Additionally,the complex features two swimming pools,a spa,and approximately920 parking spaces available to residents.
The sale of this asset by Passco highlights their ongoing success in strategic real estate investments.
