SARASOTA, FL-A multifamily property situated in the Palm Aire community in Sarasota has changed hands. Beachwold Residential has sold the 178-unit Tradition at Palm Aire for $13.5 million.
Preston Giuliano Capital Partners paid $54 per square foot or $75,843 per unit for the apartment property, which was 95% occupied at the closing. Jamie B. May from Institutional Property Advisors, Marcus & Millichap's multifamily brokerage division, negotiated the deal on behalf of the seller. For the full story, go to Tampa Bay Business Journal .
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