Passco Companies Sells 360-Unit Multifamily Property In Sarasota For $115M

The Multifamily property located at 5900 Wilkerson Road in Sarasota has been sold for a total price of $115,000,000. The transaction took place on December 19, 2022. The property spans across an expansive land area of 32.55 acres. The seller of this property was Passco Companies, a renowned real estate organization specializing in multifamily properties. The deal was facilitated by Jamie May from JBM Institutional Multifamily Advisors, representing Passco Companies as the broker.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $115,000,000
• Address: 5900 Wilkerson Road, Sarasota
• Market: Sarasota
• Number of Units: 360
• Price per Unit: $319,444

This significant transaction highlights the successful collaboration between Passco Companies as the seller and their representative, Jamie May from JBM Institutional Multifamily Advisors. The deal showcases the popularity and demand for multifamily properties in the Sarasota market. The vast land area of 32.55 acres provides ample space and potential for future development and growth. The attractive price per unit of $319,444 demonstrates the value and desirability of this multifamily asset.