Penler buys Manatee County apartments

Tradition at Palm Aire deal becomes the latest suburban multifamily rental property to trade amid coronavirus pandemic.

  • By Kevin McQuaid
  • | 6:00 a.m. October 1, 2020
  • | 0 Free Articles Remaining!
COURTESY PHOTO — Penler, an Atlanta company formed in 2019, has acquired the Tradition at Palm Aire apartments for $41.1 million.
COURTESY PHOTO — Penler, an Atlanta company formed in 2019, has acquired the Tradition at Palm Aire apartments for $41.1 million.
  • Commercial Real Estate
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Continuing a trend of high-profile multifamily rental sales amid the COVID-19 pandemic, an Atlanta company has purchased the Tradition at Palm Aire apartments in Manatee County.

Penler affiliate Penler de Palm Aire Owner LLC acquired the 248-unit complex, at 8445 Gardens Circle, in mid-September for $48.11 million, according to Manatee County property records.

 

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