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Pearlmark sells 216-unit Bradenton waterfront apartments
The property, completed in 2021, was acquired by Cedarwood Companies, after Pearlmark bought it via a mezzanine lender foreclosure and marketed it for sale.
Pearlmark has sold ShoreView Waterfront Apartments, a 216-unit Class A waterfront multifamily community in downtown Bradenton, Florida, at 1161 3rd Avenue N, according to ConnectCRE.
Berkadia’s Matt Mitchell and Chris Burtner arranged the sale on behalf of Pearlmark, which acquired the asset through a mezzanine lender foreclosure before broadly marketing it for sale, ConnectCRE said.
Cedarwood Companies purchased the property for an undisclosed amount. The community was completed in 2021 and offers 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.
Amenities include a swimming pool, clubroom and resident lounge, fitness center, elevators, outdoor fire pit and kitchen and grilling area, dog-washing station, EV charging stations, package receiving area, on-site maintenance, storage units, and garages, ConnectCRE reported.