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Florida & Gulf Coast  + Central Florida  + Apartments  | 
Sands Companies is developing a $37-million build-to-rent community in Newberry, FL.

Sands Company Enters Florida with $47M, 22-Acre BTR Community in Gainesville

Myrtle Beach, SC-based Sands Companies has completed its $4.1-million acquisition of a 22-acre site in the Gainesville submarket of Newberry, FL with plans to develop a $37-million build-to-rent community with 212 cottage-style apartment homes.

Tim Davis of SVN | Alliance Commercial Real Estate Advisors represented the seller.

“We were aggressively targeting opportunities to expand into FL, and Gainesville is the perfect submarket to do so,” said Sands president Joe Morrison said. “Gainesville’s demographics — particularly when it comes to job and population growth — are similar to the Sun Belt areas we currently develop in. Sands has completed BTR projects in the Carolinas and GA.

Sands will construct one, two and three-bedroom cottages with community amenities including a clubhouse; pool with sundeck and cabanas; outdoor fire pit; outdoor kitchen; fitness center with interactive fitness mirrors and flex room and private workstations.

The project site offers easy access to I-75 and is 15 minutes from the Gainesville Regional Airport and 11 miles from downtown Gainesville.


Inside The Story

Sands Companies' Morrison

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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