The four-year-old, Memphis, TN-based firm will be marketing and managing the 543-unit, 31-story Tidewater Beach golf-front condominiums scheduled to break ground by summer in Panama City, FL, 250 miles northwest of Downtown Orlando.
The value of ResortQuest's contract with condo project owner Tidewater Beach Development LLC wasn't disclosed.
"The addition of Tidewater Beach to our portfolio of properties in northwest Florida helps to continue to open up the growing Panama City Beach market to our guests," Resortquest chairman/president/CEO David Levine says in a prepared statement. "Florida continue to be a major hot spot for (vacation rental) development."
ResortQuest's Tidewater Beach contract follows a deal Levine made two weeks ago to manage Orlando-based Maesbury Homes Inc.'s 498-unit, 98-acre Bahama Bay condo resort 10 miles west of Walt Disney World.
ResortQuest manages 20,000 vacation rentals in the United States, Canada and Hawaii. In Florida, the Tennessee firm's management portfolio comprises 6,500 vacation condos, homes and villas.
Tidewater Beach condos overlook 636 feet of Gulf of Mexico frontage, 10 miles from the Alabama border. The 792-sf (one-bedroom, three-quarter bath) to 2,248-sf (three bedroom, three bath) condos will sell for $190,000 to $498,000.
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