November 4, 2019
CBRE has arranged the $28.7 million sale of a two-property multifamily portfolio in Bradenton. The two properties include Treesdale, a 197-unit condo complex at 1818 9th Ave. East, and Oakmeade, a 100-unit affordable housing property at 1831 13th Ave. East.
The adjoining properties were built between 1971 and 1975, and are nearby the upcoming Streetscape development in downtown Bradenton. Bradenton experienced 6% annual rent growth in Q3 2018 and 5.4% annual rent growth in Q2 2018, according to CBRE.
Francesco P. Carriera and Michael P. Regan of CBRE represented the seller, InvestRes, in the transaction. MNA Properties acquired the portfolio.
For comments, questions or concerns, please contact David Cohen