Rare Opportunity to Acquire a Premier Apartment Community on Florida’s West Coast
SARASOTA, FL, November 29, 2018 – Cushman & Wakefield, as exclusive marketing agent, has the launched the marketing campaign for The DeSota, a recently completed, condo-quality apartment community in downtown Sarasota. Atlanta-based Carter, one of the country’s leading real estate investment, development and advisory firms, along with Hunt Companies of El Paso, Texas, co-developed the luxury rental property, completing construction in March 2018.
The marketing team for The DeSota will be led by Senior Director Brad Capas, Senior Director Luis Elorza and Vice Chairman Robert Given of Cushman & Wakefield’s Florida Multifamily Investment Sales Team.
“The DeSota offers investors the rare opportunity to acquire one of the highest-quality and most exclusive rental communities in Florida,” said Capas. “Superior concrete construction, luxuriously appointed units and an extensive array of resort-style amenities differentiate The DeSota, setting a new standard for ultra-luxury rental living along Florida’s west coast.”
The 10-story building consists of 180 residences plus 15,350 square feet of ground floor commercial space. The DeSota’s residences are among the largest rentals in the market, averaging 1,139 square feet.
The DeSota was designed to appeal to downtown Sarasota’s discerning and affluent residents. According to statistics published by Axiometrics, the average household income of residents in downtown Sarasota is $100,353, exceeding the Sarasota County average by 25 percent. The average age of residents in downtown Sarasota is 59, slightly older than the countywide average of 55.
Added Elorza, “Downtown Sarasota has become a favored destination among wealthy home buyers and renters seeking luxury urban housing in Florida. Most of The DeSota’s residents are ‘renters-by-choice’ who can afford to buy a home but prefer to rent. The affluence and stability of The DeSota’s resident profile will be very appealing to prospective investors evaluating the property for acquisition.”
The property is located at 1415 2ndSecond St. in the heart of downtown Sarasota, directly across the street from Whole Foods Market and just two blocks from Main Street. The Sarasota Bay waterfront, numerous shops, dining establishments, galleries and cultural venues are all within a five-minute walk.
Cushman & Wakefield’s Florida Multifamily Team is directed by Given and includes Capas and Elorza leading West Florida; Zachary Sackley, Troy Ballard, Neal Victor, Calum Weaver and Errol Blumer in South Florida; Jay Ballard and Ken Delvillar in Central Florida; and Julie Bohn in Jacksonville. Robert Kaplan, Chris Lentz and Mark Rutherford facilitate debt, equity and structured finance transactions for the team throughout Florida.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida