Greystar to Manage Villa Grande

Greystar Real Estate Partners, the nation's largest residential, multifamily manager in the U.S., is poised to take over property management of the four-story Villa Grande at Sarasota later this month.

The shift at the 4 Maggie Lane property, a 62-plus community at Fruitville and Beneva roads in Sarasota, could also coincide with a sale of the 108-unit complex, according to sources with knowledge of the sale, though the transaction is not yet reflected in Sarasota County property records.

LeCesse Development Co., of Orlando, completed Villa Grande in 2011, after a plan to develop for-sale condominiums on the 5.3-acre site fell victim to the economic recession of the last decade.