Loading
In one of the largest multifamily rental transactions in Sarasota County in the past year, Abacus Capital Group has purchased the Sage at Palmer Ranch apartments for $60.4 million, property records show.
The acquisition marks the New York firm’s first along the Gulf Coast. Abacus owns four other apartment complexes in Florida, according to its website.
Seller Spanos Corp., of Stockton, Calif., completed the 257-unit community in 2014. Units in Sage range from 639 square feet to 1,315 square feet., and the project’s amenities include a clubhouse, cyber café, fitness center, swimming pool and pickleball courts, Sage’s website notes.
Abacus officials did not respond to a request for comment on its acquisition.
The company, which controls more than 23,000 apartment units nationwide valued at $2.5 billion, was formed in 2004.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
