Berkadia Structures Forward Sale of Build-to-Rent Community Near Sarasota, Florida
TAMPA, Fla. – February 26, 2024 – Berkadia announced today that it structured the forward sale of Marisol, a build-to-rent community featuring 172 villa-style homes located approximately 40 miles south of Tampa in Bradenton, Florida. Senior Managing Director Matt Mitchell, Associate Bailey Smith, Managing Director Brett Moss, and Director Tyler Swidler of Berkadia Central & North Florida arranged the transaction on behalf of the seller, homebuilder Neal Communities. The buyer is an institutional investor advised by J.P Morgan Global Alternatives. An initial closing was held on February 23.
“Marisol is a highly differentiated rental option that will meet the demand for residents looking for carefree living in a dynamic and upscale location,” said Mitchell. “Between Neal Communities’ attention to detail and the property’s beautiful and spacious single-story floorplans, Marisol stands in a class of its own.”
“We’re pleased to execute another transaction with Neal Communities and bring more purpose-built single-family rental homes to American families,” said Ryan Holgan, who along with Jess Jeyabalan of J.P. Morgan Asset Management, led the acquisition team.
Located on 39 acres next to the top-selling master-planned community of Lakewood Ranch, Marisol consists of 172 unique, single-story paired villas ranging from 1,434 to 1,524-square feet featuring British West Indies and Coastal architectural styles. All homes offer a two-bedroom, two-bath layout plus a den, two-car garages, screened-in lanais, and a backyard. The community amenities include a resort-style pool and a dog-park. The homes encircle a small lake, with some homes offering waterfront views.
Berkadia also facilitated another transaction between Neal Communities and J.P. Morgan Asset Management, with an initial closing in December 2023. That transaction included 126 townhome units in Venice, Florida, about 20 minutes south of Sarasota.
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