Indiana firm buys multifamily complex for $12 million

BRADENTON — Indiana-based Pedcor Cos. has acquired The Palms at Cortez, a 92-unit apartment complex in central Bradenton, for $12.05 million.

It’s the second apartment community acquisition Pedcor has made in the region in the past four months, following its November purchase of the 188-unit Naples 701complex for $24 million. Carmel, Ind.-based Pedcor, according to a statement, develops, builds and manages commercial buildings and affordable and market-rate apartments nationwide.