Lakewood Ranch apartment complex sells for more than $90 million

A 304-unit Lakewood Ranch apartment complex has sold.

The community is Vida Lakewood Ranch, which is off of Technology Terrace just north of 44th Avenue East. The property was sold for $92.12 million by the Milwaukee developer that built it, Zilber Residential Group.

Berkadia, which represented Zilber, did not disclose the buyer and Manatee County public records had not been updated as of July 8.

Property records do show that Zilber bought the 27.9-acre property in 2020 for $5.7 million and built the 19-building community in 2022.

The two-story garden-style Vida Lakewood Ranch has units ranging from 773 square feet to 1,103 square feet. Monthly rents, as of July 8, start at $1,750 for a one-bedroom unit and top out at $2,200 for a two bedroom.

Along with the mostly standard amenities and accoutrements, the complex has a clubhouse with a community kitchen and a poker table as well as a walking trail around a 4.5-acre lake.

The Zilber Residential Group builds and manages communities in Wisconsin, Arizona and California, along with Florida.

Among its other area projects are the Tides at Waterside in Lakewood Ranch and the Revello Apartments in Nokomis. Zilber, according to its website, previously owned Artesia Lakewood Ranch and Estia Lakewood Ranch.

It is also working on a community in Parrish, the Eddy at Harrison Ranch.

Berkadia’s Matt Mitchell and Chris Burtner represented Zilber.