Passco Closes on Luxury Ponte Vedra Apartment

This acquisition brings the firm's current Florida portfolio to a total of 3,650 units.

By John McCurry | March 19, 2020 at 09:09 AM

POINT VEDRA, FL—Passco Cos., a privately held California-basedcommercial real estate company, has acquired The Reserve atNocatee, a 244-unit luxury multifamily community in Ponte Vedra,Florida, for $54.9 million.

Passco officials tell GlobeSt.com that the deal closed on March17. The seller was not disclosed. The firm says it plans onremaining active in Florida and hopes to target additional projectsin St. Johns County in the future.

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