Site, sold for $2.1 million, to become apartments

The Gallina Corp. has residential rental properties in Wisconsin and Florida.

By Business Observer Staff
| 3:50 p.m. February 5, 2020
| 2 Free Articles Remaining!

Courtesy. A 15-acre multi-family site in Venice has closed for $2,100,040.

Manatee-Sarasota

VENICE — A 15-acre multifamily site in Venice has closed for $2,100,040.

Under contract for two years, the site was rezoned and is now ready for development, intended to for 116 market-rate rental apartments, according to a press release. The site is at 409 and 461 Ramsey Road. “The Venice market is really growing and expanding with new residential for-sale product and rental apartments,” says Dahm in the statement.

Commercial Advisor Dennis Dahm of MSC Commercial represented both the buyer, The Gallina Corp., and seller, Discovery Village at Venice LLC.

The Gallina Corp. has residential rental properties in Wisconsin and Florida, including its newest community off Fruitville Road, The Bergamot. Dahm also brokered that transaction in 2018, the release states.

MSC Commercial, which covers Manatee, Sarasota, Charlotte counties and beyond, is a division of Sarasota-based Michael Saunders & Co.

Michael Saunders & Co. reported $79 million in gross revenue in 2018.