Newspaper article Sarasota Herald Tribune

Another Manatee Complex Is Sold

Newspaper article Sarasota Herald Tribune

Another Manatee Complex Is Sold

Article excerpt

MULTIFAMILY REAL ESTATE

BRADENTON -- In the latest rental community deal, an Illinois company bought the Sawgrass Cove apartment complex for $39.25 million.

The 336-unit complex was acquired by an affiliate of The Inland Real Estate Group, a commercial real estate and finance organization with $6.7 billion in assets.

The seller, a limited liability company managed by Richard A. Golden of North Miami, unloaded the complex after paying $23.2 million for it less than five years ago.

The 28-acre property, 4801 47th Ave. W., was built in 1991. Its one-, two- and three-bedroom units rent for $954 to $1,435 per month, according to its website. Community amenities include a clubhouse, fitness center, business center and pool.

JPMorgan Chase provided a $23. …

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