Sun Chase Apartments in Bradenton sell for $20 million

Earlier this month, Sun Chase Apartments in Bradenton was sold to Virginia-based apartment rental and management group General Services Corp. for $20 million.

The complex, located at 3116 59th St Court W., was built in 1986 and houses one- and two-bedroom apartments. The seller, Sunchase TL2 LLC, is Houston-based Ilan Investments. Ilan’s holdings are mostly in Texas with others in New Mexico, Oklahoma, Pennsylvania and Ohio, as well as other complexes in the Tampa Bay area.

Amenities at Sun Chase include a pool, hot tub, community grill, on-site lake, fitness center, laundry facilities, screened lanais and vaulted ceilings. The complex is located directly across from GT Bray Park and Recreation Center.

The property used to be managed by Adara Communities, Ilan’s property management arm. General Services Corp. combines functions of an investment group and a property management company, according to the company’s website.

General Services Corp. also owns Cypress Winds Apartment Homes and Kendall Ridge Apartment Homes in Bradenton, as well as complexes in Brandon, Clearwater, Tampa and Largo. Most of General Services Corp.’s property is located in North Carolina and Virginia with others in Georgia and Nevada.

Sun Chase last sold in November 2013 for $9.4 million. Representatives for Ilan Investments and General Services Corp. could not be reached for comment.

This story was originally published December 21, 2016 at 2:59 PM with the headline "Sun Chase Apartments in Bradenton sell for $20 million."