Manatee apartments sold for $13.5 million

MANATEE -- The Tradition at Palm-Aire Apartments along the University Parkway corridor in South Manatee has changed hands for $13.5 million, court records show.

Tradition Tarragon LLC sold the property at 8445 Gardens Circle on May 2 to Jwc Sarasota Tpa LLC.

The 178-unit complex features eight floor plans ranging from one-bedroom, one-bath units at 627 square feet that rent for $805 a month; to three-bedroom, two-bathroom units that cover 1,395 square feet and run up to $1,345 per month.

The property also includes three swimming pools, a hot tub, two lighted tennis courts, a fitness center and club house. The current management offers leases from seven to 18 months.

Josh Salman, Herald business writer, can be reached at 941-745-7095. Follow him on Twitter@JoshSalman