Here’s what sold marking Manatee County’s largest real estate transaction of 2018

Large apartment complexes continue to be a popular real estate commodity in Manatee County, with the 196-unit Palmetto Trace Apartments at 708 Second Ave. E. recently selling for $18.7 million in the latest large transaction.

Palmetto Dunes Ltd. of Orlando sold the property to PT Dolphin Palmetto Trace of Greenwich, Conn., according to the Manatee County Clerk of Circuit Court.

In the hot multifamily residential market, properties changed hands frequently in 2017 after being owned for only a few years.

Palmetto Trace Apartments, however, had the same owner dating to 1997, according to the Manatee County Property Appraiser. At that time, the land sold for $950,000.

The Palmetto Trace Apartment sale marks the largest in Manatee County for 2018.

The second-largest real estate sale reported by the Clerk’s Office was the $8.2 million paid by Bradenton Citywalk LLC of Bradenton to Samjack Homestead LLC of Pembroke Park for Citywalk Apartments at 2019 Fifth St. W. The apartments are located southeast of LECOM Park.

Some of the notable apartment sales in Manatee County during 2017:

• The 360-unit Echo Lake Apartments at Lakewood Ranch, 11502 Echo Lake Circle, sold for more than $76 million.
• The 376-unit Champions Walk apartment complex, 4148 53rd Ave. W., sold for $58 million.
• The 264-unit Lost Creek at Lakewood Ranch, 11140 Lost Creek Terrace, sold for $50,500,000.
• The Bradenton Reserve Apartments, 6050 34th St. W., sold for $19 million.
• The 178-unit River Trace Apartments, River Trace Circle, sold for $15,949,500.
• The 254-unit Avalon Square Apartment Homes, at 3506 14th St. W., sold for $11,988,000.

This story was originally published January 31, 2018 at 2:58 PM with the headline "Here’s what sold marking Manatee County’s largest real estate transaction of 2018."