Tradition at Palm Aire
8445 Gardens Circle
Sarasota, Florida 34243
A stately Plantation-style condominium community in an irreplaceable location, off University Parkway on the grounds of the prestigious Palm Aire Club in Sarasota, Florida. PGCP has purchased 178 units rented as apartments.
- Located in Sarasota, one of the most desirable communities in West Florida
- Distinctive architecture and luxuriant landscaping
- Superior surrounding neighborhood, characterized by high-end gated residential communities and clubs
- Outstanding A+ location in the midst of the vibrant University Parkway area, in close proximity to employment centers, retail, and service. The largest high-end retail mall in west Florida is opening on University Parkway less than one mile away.
- Full amenity package: two full-size pools, lap pool, spa, lighted tennis courts, clubhouse, and fitness center
- Property has great exposure to main thoroughfares; critical for market presence
- Attractive tenant profile: gray- and white-collar residents
- Good unit mix: 45 1BR, 105 2BR, 28 3BR and loft style
- Concrete construction with brick exteriors, well built, superior acoustic separation
Tradition at Palm Aire is a distinctive, first class property that represents real value. PGCP purchased at half of the sales price in 2006, 60% of replacement cost, and 35% of retail sales prices in 2006–07.
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