Repositioning Underway for Recently Traded Sawgrass Cove in Florida via MHN Online
By Barbra Murray, Contributing Writer
Bradenton, Fla.—In their first joint venture endeavor, Atlas Real Estate Partners and Andover Real Estate Partners LLC have wrapped up the $23.3 million purchase of Bradenton, Fla.’s Sawgrass Cove Apartments from Equity Residential. Now, gearing up to add a little more luster to the local apartment market, the partners have tapped multifamily management provider Greystar to oversee the 336-residence property, which is presently being repositioned.
Sawgrass Cove, formerly owned by Equity Residential, first opened its doors at 4801 47th Avenue West in 1991. The property sits on a 28-acre parcel with a lake roughly 10 miles south of Sarasota in Manatee County. Atlas and Andover’s renovation plan for the apartment community includes the upgrading of units, as well as the amenities package, which now includes a new on-site fitness facility and dog park.
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