CBRE Arranges Sale of 300-Unit Multifamily Property in Bradenton, FL in Off-Market Transaction

CBRE has arranged the sale of the Preserve at Riverwalk, a 300-unit multifamily property in downtown Bradenton, Fla.

Frank Carriera, Mike Regan, Joe Ayers, and Cliff Taylor with CBRE represented both the buyer, ZMR Capital, and the seller, Becovic Management, in an off-market transaction.

“The seller disposed of the property as part of a 1031 exchange, and we were able to find a replacement property that fit their investment criteria. By uniting these two groups, we were able to deliver a value for the seller that exceeded their expectations and allowed for the buyer to continue their investment strategy to grow their market presence in Southwest Florida,” said CBRE Executive Vice President Frank Carriera.

Built in 2018, the gated property features seven (7) three-story buildings with a mix of one-, two-, and three-bedroom units averaging 1,046 square feet. Community amenities include a 24-hour fitness center, grilling area, dog park and wash station, swimming pool, and detached garages. The property is located at 360 11th Street East, one block from Manatee River.