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Florida & Gulf Coast  + Florida  + Apartments  | 

Passco Acquires 360-Unit MF in Sarasota for $77.5M

Connect Apartments is coming up on June 26th in Los Angeles. Here’s a link to find out more about the conference and register.

Passco Companies acquired a Class A, trophy multifamily asset in Sarasota, FL for $77.5 million. The 360-unit luxury community, currently named Springs at Bee Ridge, will be rebranded as Longitude 82o.

The institutional grade property is located at 5900 Wilkinson Rd., and has direct access to Interstate Highway 75, a key regional connector to the Tampa market and Southwest Florida.

JBM Institutional Multifamily Advisors’ Jamie May represented the seller and the buyer. KeyBank Real Estate Capital’s Chris Black and Caleb Marten arranged acquisition financing.

Amenities include a resort-style salt water swimming pool with an expansive sun deck and poolside kitchen with grills and a fire pit, 24-hour state-of-the art fitness center, a resident clubhouse and lounge, two leash-free dog parks, pet grooming station, car wash area, and controlled-access gated entry.

This acquisition brings Passco’s multifamily portfolio in the state of Florida to nine properties, totaling more than 2,700 units.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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