Graham Carpenter Of Penler Acquires 320-Unit Botanic At Waterside Multifamily In Lakewood Ranch For $81.8M

The property involved in the transaction is a multifamily asset located at 1400 Pine Warbler Place in Lakewood Ranch, consisting of 13.6 acres. The sale price of the property was $81,800,000, and it includes 320 residential units, resulting in a price per unit of $255,625. The apartment complex, known as Botanic at Waterside, was built between 2020 and 2021 and features multiple four-story buildings and upscale amenities, with rental rates starting at $1,655.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $81,800,000
• Address: 1400 Pine Warbler Place
• Market: Lakewood Ranch
• Acres: 13.6
• Units: 320
• PPU: $255,625
• Buyer: Graham Carpenter - Penler
• Seller: LivCor

Graham Carpenter represented Penler in the acquisition of the property from LivCor, which is associated with the Blackstone portfolio. This transaction showcases the involvement of established firms in the multifamily housing sector and reflects the dynamics of property investment in the Lakewood Ranch area.