2016 Top Deals | Sarasota-Manatee

Although the largest commercial real estate transaction in Sarasota and Manatee counties in 2016 involved a hotel, multifamily projects were the star asset class in the region.

Three of the top five sales of the year involved apartment communities, in Bradenton and University Park, and traded for a combined $188.55 million — 60% of the total dollar volume of the top five transactions.

By contrast, just one of the top five commercial real estate deals of 2015 involved a multifamily deal. Analysts attribute the interest in apartments to continued job and population growth in the Sarasota and Manatee areas, especially among renters of choice — retiring baby boomers, empty nesters, millennials and other young professionals.