Pearlmark Offloads 216-Unit Bradenton Apartment Community
Pearlmark has sold ShoreView Waterfront Apartments, a 216-unit Class A waterfront multifamily community located at 1161 3rd Avenue N in downtown Bradenton.
Berkadia’s Matt Mitchell and Chris Burtner of Berkadia Florida arranged the sale on behalf of Pearlmark, which acquired the property through a mezzanine lender foreclosure before broadly marketing the asset for sale. The Cedarwood Companies acquired the property for an undisclosed amount.
Completed in 2021, ShoreView Waterfront Apartments features one-, two- and three-bedroom apartment homes ranging from 760 to 1,416 square feet, with an average unit size of 1,024 square feet.
Community amenities include a swimming pool, clubroom with resident lounge, fitness center, elevators, outdoor fire pit, outdoor kitchen and grilling area, dog-washing station, EV charging stations, package receiving area, on-site maintenance, storage units and garages.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout