Newly built 279-unit Sarasota County apartment complex sold

A little more than a year after opening an apartment community in North Port’s Wellen Park, the national developer that built the complex has sold it. Tropia Wellen Park was sold by Davis Development, which is based in Georgia.

The buyer was Harbor Group International, according to JBM Institutional Multifamily Advisors, which brokered the sale and declined to disclose the purchase price. Sarasota County property records have not been updated to reflect the recent sale as of Aug. 8.

Davis Development purchased the land on Sunglow Boulevard for $4.18 million in 2021. The property, including its buildings, was appraised for $59.25 million this year, according to the Sarasota County Property Appraiser.