Sawgrass Cove Apartments Under New Ownership

Bradenton, FL, November 10, 2011 --(PR.com)-- Sawgrass Cove Apartments, a 336-unit community located in Bradenton, Florida, was recently acquired by Atlas Real Estate Partners and Andover Real Estate Partners. The acquisition represents the first formal partnership between Atlas and Andover. The two firms will work together to grow their Florida multifamily platform over the next 24 months. Greystar is pleased to be working with Atlas Real Estate Partners and Andover Real Estate Partners as they reposition the community.

“We are delighted to have the opportunity to manage Sawgrass Cove,” said Patricia Carney, Regional Property Manager for Greystar. “The community is centrally located minutes from exceptional shopping, dining, Anna Maria Beach & downtown Bradenton. We are very excited about the upcoming upgrades to the amenities and apartments! We are working hand in hand with Atlas and Andover to create a sense of community with regularly scheduled town hall meetings and resident events to receive their input on our changes.”

Sawgrass Cove offers residents one, two and three-bedroom apartment homes situated on 28 acres with a beautiful lake. Amenities include upgraded features and finishes, all new appliances, new landscaping throughout the community, Tradition-style white cabinetry and contemporary lighting fixtures. Residents can enjoy the convenience of a brand new on-site fitness center, new dog bark, resort-style pool, tennis/basketball courts, business center and car care center. For more information on Sawgrass Cove, visit www.sawgrasscove.com.

Atlas Real Estate Partners & Andover Real Estate Partners
The acquisition represents the first formal partnership between Atlas and Andover. Atlas Real Estate Partners focuses on both value-add and core-plus multifamily opportunities in Texas, Florida, Massachusetts and New York. The firm was founded by Arvind Chary and Alex Foster in late 2009. Five acquisitions have closed since then. Andover Real Estate Partners was founded by Robert Stone with the aim to acquire multifamily properties through Florida and the Southeast.

Greystar
Greystar was founded in 1993 with the intent to become a provider of world-class service in the multifamily real estate business. Greystar’s innovative business model integrates the management, development and investment disciplines of the multifamily industry on both national and local levels. Headquartered in Charleston, S.C., Greystar manages over 180,000 units in 100+ markets with a team that is more than 5,000 strong and growing. Greystar has invested approximately $3 billion in multifamily investments since its inception. To learn more about Greystar, visit www.Greystar.com.

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