General Services buys Nokomis apartments

Just four months after buying the seven-story Gull Harbor Apartments in Pinellas County, an affiliate of General Services Corp. has acquired the garden-styled Treviso Grand multifamily rental complex in the Nokomis section of Sarasota County for nearly $64 million.

The February purchase of the 272-unit Treviso Grand apartments marks the Richmond, Va.-based company’s seventh Gulf Coast purchase since mid-2017, according to property records.

During that time, General Services regionally has spent in excess of $450 million to add more than 2,100 units to its portfolio.

In all, General Services owns 13 complexes in Florida, all along the Gulf Coast from Clearwater to Venice, according to its website.

General Services executives did not return a telephone call for comment on the company’s latest purchase.

Treviso Grand was completed in 2019 by Milwaukee, Wisc.-based Zilber Ltd. Commercial real estate brokerage JLL’s capital markets team of Senior Managing Director Matt Mitchell, in Tampa, along with the firm’s Zach Nolan and Drew Jennewein represented Zilber in the transaction.

Treviso Grand follows a pattern of recent General Services’ purchases. Like Allure at Gateway, the complex is a new vintage, with modern amenities such as a saltwater swimming pool, fitness center with classes, bocce courts and fire pits, a playground, lakeside walking trail and a pair of dog parks with a pet washing station.

Rental rates in the 100 Treviso Grand complex range from $1,155 monthly to $1,875 per month, according to housing research website Apartments.com.