Southeast

SARASOTA, FLA. — Atlas Real Estate Partners and Andover Real Estate Partners have sold Huntington Place Apartments, a 252-unit multifamily community located at 3201 Huntington Place Drive in Sarasota. Bridge Investment Group purchased the property from Atlas and Andover, which have owned the community for 11 years, for an undisclosed price. The buyer assumed a Fannie Mae loan originated by Berkadia. Jason Stanton and Matt Mitchell of Berkadia represented the sellers in the transaction. Prior to the sale, Atlas and Andover completed a comprehensive overhaul of Huntington Place, including the renovation of nearly all units, upgrades to the clubhouse, exterior enhancements such as façade improvements and new roofs and the addition of modern amenities like a dog park, fitness center and outdoor lounge area. The property was 95 percent occupied at the time of sale.

PEMBROKE PINES, FLA. — Atlanta-based Cortland has acquired Harbour Cove, a 240-unit, Class B apartment community located in Pembroke Pines, a city in South Florida’s Broward County. Cortland has renamed the property as Cortland Harbour Cove. The community features two-bedroom apartments and three-bedroom units with dens, as well as a fitness center, clubhouse, playground, tennis courts and volleyball courts. Cortland plans to make capital improvements to the property, including full kitchen renovations, new lighting and plumbing fixtures, cosmetic upgrades to the clubhouse and fitness center and the addition of a new dog park and pickleball court. Nearby attractions to Cortland Harbour Cove include Pembroke Pines City Center and Miramar. The seller and sales price were not disclosed. With this acquisition, Cortland now owns and operates four assets in Broward County alone and 46 assets spanning more than 16,000 units across Florida.