Recent run on Bradenton apartment complexes continues. This one sells for $38 million.
The Point at Bella Grove, a 180-unit luxury apartment complex at 3415 Broadway Ave., recently sold for $38 million.
The sale, reported Wednesday by the Manatee County Clerk of Circuit Court’s Office, is the most recent in a string of apartment complexes in the Bradenton area snapped up by investors.
Katz Properties Inc. is the new owner.
“Customer service is our No. 1 priority,” said Lisa Cuenca, a regional manager for Katz Properties.
Planned changes include adding a trail around the 9.5-acre property, a dog wash station for the dog park and conversion of an apartment model into a guest suite.
“We also want to provide more activities for residents,” she said.
Katz Properties is pleased with its new acquisition.
“This has been the best community. The area is really beautiful and is growing,” she said.
The Point at Bella Grove is located north of University Parkway and east of Shade Avenue.
Waypoint Residential, which sold The Point at Bella Grove to Katz Properties, paid $4.35 million for the property in 2015 when it was still an open field with a two-lane shell road running though it.
Rentals at The Point at Bella Grove start at $1,389.
Other Bradenton area multi-family housing units that recently sold include:
▪ The 900-unit waterfront Carlton Arms of Bradenton, 5200 Riverfront Drive, for $110.5 million.
▪The 360-unit Echo Lake Apartments at Lakewood Ranch, 11502 Echo Lake Circle, for $76 million.
▪ The 376-unit Champions Walk apartment complex, 4148 53rd Ave. W., for $58 million.
▪ The 264-unit Lost Creek at Lakewood Ranch, 11140 Lost Creek Terrace, for $50.5 million.
▪ The 179-unit Riversong Apartment Homes, 606 3rd Ave. W., for $33 million.
▪ The 259-unit Gates of Bradenton apartment complex, 4515 26th St. W., for $24.5 million
▪ The 103-unit Bradenton Reserve Apartments, 6050 34th St. W., for $19 million.
▪ The 152-unit Preserve at Manatee Bay, 5901 28th Ave. W., for $18.75 million.
▪ The 196-unit Palmetto Trace Apartments at 708 Second Ave. E., for $18.7 million.
▪ The 178-unit River Trace Apartments, River Trace Circle, for $15,949,500.
▪ The 254-unit Avalon Square Apartment Homes, at 3506 14th St. W., for $11,988,000.