Bradenton, FL – Capstone Apartment Partners has negotiated the sale of the Townhouse Park Apartments, a 49 -unit multi-family community located in Bradenton, FL. Capstone’s Jad Richa and Brian Hunsicker exclusively represented the local seller in the $5,450,000 transaction. This sale marks Capstone’s second transaction in the Bradenton market in 2019.
“Townhouse Park represents one of the last true-value add opportunities in Bradenton. We were able to solicit an out-of-market buyer by effectively communicating the market proven unit renovation program” explains Richa. Townhouse Park is the South Florida based buyer’s first acquisition in the Bradenton market, and is a perfect demonstration of the demand that exists for multifamily assets along the Gulf Coast.”
Capstone’s aggressive marketing enabled the Seller to achieve premium pricing of $111,225 per unit or $124 per rentable SF. Townhouse Park Apartments is a 1980’s garden style community consisting of ten two-story buildings with an average unit size of 900 square feet. The property was 100% occupied at the time of sale.
Capstone Apartment Partners is the largest privately-owned investment sales firm in the Southeast, with offices in Tampa, Orlando, Charlotte, Raleigh-Durham, Richmond, Cincinnati, and Nashville. Focused on the transaction of multi-family properties throughout the Midwest and Southeast, Capstone was ranked in the top 2% of brokerage firms nationwide for total sales in 2017, and 14th in annual garden-style apartment sales.
For more information please contact Brian Hunsicker – firstname.lastname@example.org or Jad Richa email@example.com or Tom Huffsmith firstname.lastname@example.org- or visit www.capstoneapts.com.