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Bradenton, FL MF Sold for $76M
Newtown, MA-based Northland Investment Corporation acquired Echo Lake, a 360-unit luxury apartment community in Bradenton, FL for a reported $76.1 million. Located at 11502 Echo Lake Circle, the property was sold by Tri of Lakewood Ranch Apartments LLC, an affiliate of Homes by Towne.
Completed this past May, Echo Lake is a 12-building residential complex consisting of one, two and three-bedroom apartments, spread across an expansive 41-acre site. The 93%-occupied property is fully stabilized. The community’s amenity package includes a 3.5-acre park, a state-of-the-art fitness center, a zero-entry saltwater pool, and community garden plots.
The new development in the Lakewood Ranch master-planned community marks Northland’s sixth acquisition in as many months. The firm now is the second largest owner-operator of market-rate multifamily residential communities in Florida.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

