Manatee County apartment complex sells for $67 million

A relatively new apartment community in Manatee County has sold. Investors recently purchased The Crossing at Palm Aire for $67 million, according to a copy of the deed in Manatee County records. Next, the new owners plan to make some improvements to the 51.98-acre community on Whitfield Avenue, according to a statement.

The buyers include private markets investment firm Broad Creek Capital and co-sponsor real estate investment management firm Hillridge Capital. Abod Capital Solutions also invested as a co-limited partner in the joint venture, the statement says.

The seller was CH Eastwind Sarasota Owner LLC, an entity with an address in Palm Beach Gardens, according to Manatee property records.

Completed in 2023, The Crossing at Palm Aire at 4665 Whitfield Ave. has 315 apartments. Floor plans range from 700 square feet to 1,300 square feet, with one, two and three-bedroom units available. Apartments include washers and dryers, quartz countertops and open-concept kitchens. Among the community amenities are a movie theater, fitness center, yoga and cycling room, clubhouse with indoor/outdoor bar area and pool with outdoor grilling stations.

"The Crossing at Palm Aire is the type of asset we look for: a high-quality community in a growing market where we can improve operations, enhance the resident experience and create long-term value." Adam Stifel, head of real estate at Broad Creek Capital, says in a statement.

The community’s new owners plan to make operational enhancements, targeted capital investments and resident-focused initiatives, according to a statement that says Hillridge Capital will take the lead on these initiatives. Based in Bethesda, Maryland, the firm specializes in acquiring, renovating, developing and managing top-tier properties across the Sun Belt and Mid-Atlantic.

Acquiring the Crossing at Palm Aire is the second transaction Broad Creek and Hillridge have completed together, following their October 2025 purchase of The Carson, a 298-apartment complex in Charlotte, North Carolina.

"The Crossing at Palm Aire is an exceptional community with tremendous long-term potential," Jonathan Cummings, founder and managing partner of Hillridge Capital, says in a statement. "Together with Broad Creek, we're focused on creating operational efficiencies, enhancing the resident experience and building on an already outstanding asset.”