Texas company buys Manatee County apartment complex

An apartment complex in Palmetto has recently changed hands. Trevesta Place Apartments was acquired by Venterra Realty of Houston, according to a statement. Financial terms of the deal were not disclosed, and Manatee County property records have not yet been updated to reflect the sale as of Aug. 22.

Trevesta Place Apartments, near the intersection of Interstates 75 and 275, contains 256 units.

The seller — CRP/TBR Trevesta Place Owner LLC — bought the land on Annapolis Loop for $3.1 million in 2021, and the property is now assessed for $48.687 million, records show.

"We have seen excellent growth in the Sarasota market and are excited to expand our Florida portfolio into Palmetto with the addition of the amenity-rich property Trevesta Place Apartments," CEO of Venterra Realty John Foresi says in a statement.

The 10.3-acre campus contains four-story apartment buildings featuring units with granite countertops and oversized closets as well as a fitness center, a resident lounge, electric vehicle charging stations, a pool with grilling area and a dog park. Residents are allowed up to three pets per apartment with no weight limit, according to a statement.

"Venterra has become known as a company that is committed to providing a market-leading living experience," Venterra Chairman Andrew Stewart says in the statement. “We look forward to identifying opportunities to further enhance the standard of living at Trevesta Place Apartments by implementing Venterra's customer-focused management platform.”

Venterra Realty manages 90 communities and 26,000 apartments, housing more than 50,000 people and 15,000 pets, according to a statement. Its portfolio includes multifamily real estate assets valued at $5.5 billion. Other properties Venterra owns in the region include Valencia at Westchase and Citrus Run in Tampa; The Retreat at Lakeland; and Gateway North in Clearwater.