Passco Cos Acquires Multifamily Property In Panama City Beach For $92.5M

The multifamily property located at 10400 Panama City Parkway in Panama City Beach has been sold. The transaction took place on December 13, 2022. The property, consisting of 300 units, was sold for a total of $92,500,000, resulting in a per unit price of $308,333.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $92,500,000
• Date: 12/13/2022
• Address: 10400 Panama City Parkway
• Market: Panama City Beach

The buyer in this transaction was Passco Cos, while the seller was Flournoy Properties. The deal was facilitated by brokers Joe Ayers, Cliff Taylor, Paul Berry, and Don Hoffman from CBRE.