2835 50th Avenue West
Bradenton, FL 34207
30 West Apartments in Bradenton Fetches $25 Million in Recent Sale
Community was Formerly Acquired and Refurbished by Sarasota-Based Insula Companies
SARASOTA, Fla. – May 14, 2015 – Insula Companies – a Sarasota-based firm specializing in apartment community Acquisition and revitalization on behalf of investors – has successfully completed the sale of 30 West Apartments in Bradenton – formerly known as Braden Lakes – to a private investor for $25 Million. “The Acquisition and subsequent sale of 30 West is an exceptional representation of how we accomplish our goals on behalf of our investors,” said Fred Cochran, President of Insula Companies. “We are proud of our work on this community, as it builds on our positive track record of bringing value and good returns through effective management services, widespread improvements and high occupancy rates.”
Insula Companies purchased the property – located at 2835 50th Avenue West in Bradenton – for $14.28 Million out of foreclosure in 2013. The firm spent more than $1.4 Million enhancing curb appeal, improving common area amenities, and making multiple interior upgrades to residential units in order to create a truly value-added apartment community.
With properties in Georgia as well as Orlando, Tampa, Jacksonville, Lakeland and throughout Southwest Florida, Insula Companies pursues only the communities considered to have the best future value for investors. Among the criteria to qualify for Acquisition, an apartment community must be a class B or C property with a minimum of 150 units, 15 to 40 years old, present value-added potential through cosmetic or substantial rehabilitation work, and have market-related and/or management induced challenges.