JBM Institutional Multifamily Advisors Facilitates $102M Sale Of ParkCrest Landings In Bradenton

Passco Companies, represented by William Passo, has sold ParkCrest Landings in Bradenton, Southwest Florida. This Class A multifamily property consists of 400 units and spans across 78.39 acres. The property offers a wide range of amenities and convenient access to nearby parks and shopping centers. The sale price for this transaction was $102,000,000, which translates to an average price per unit of $255,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $102,000,000
• Units: 400
• Price Per Unit: $255,000
• Acres: 78.39
• Address: 5725 1st Avenue East, Bradenton
• Market: Bradenton

JBM® Institutional Multifamily Advisors, led by Jamie May, facilitated this $102 million sale. Despite rising costs, Jamie May mentioned strong buyer interest, resulting in a successful transaction. It is worth noting that this is the second time ParkCrest Landings has been sold by JBM® Institutional Multifamily Advisors. The brokerage firm's expertise and reputation in the multifamily asset market have contributed to their success handling this property.