Florida & Gulf Coast + Central Florida + Apartments | March 23, 2021

CushWake Brokers $12M Sale of Bradenton Apartments

Cushman & Wakefield has arranged the $12 million sale of The Palms at Cortez, a 92-unit apartment community in Bradenton, FL.

Located at 3810 5th Street East, the property is nearby the DeSoto Square Mall Redevelopment Project with plans to include more than 16,000 square feet of retail space, a 40,000-square-foot grocery store and 60,000 square feet of new office space. Amenities include a swimming pool with sundeck, outdoor fitness equipment and BBQ/picnic areas.

Mike Donaldson and Nick Meoli of Cushman & Wakefield represented the seller, global real estate private equity firm Asia Capital Real Estate (ACRE), in the transaction. The buyer was Pedcor Cos., which develops, constructs and manages commercial buildings and affordable and market-rate apartments throughout the United States.

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CushWake’s Donaldson

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.