May 13, 2021
Snell Properties, a Virginia-based, family-owned and professionally operated investor, developer and asset manager of a portfolio of multifamily properties around the country, purchased Arcos Apartments in Sarasota. Arcos Apartments covers a whole city block in downtown Sarasota.
The Sarasota apartment complex sold for $80 million, which brings it to $350,878 / unit.
Arcos was built in 2019 and is a 228-unit complex with options for studios, one-bedroom, two-bedroom, and three-bedroom floorplans. Amenities in the apartments include keyless access, walk-in closets, in-unit washers / dryers, quartz countertops in the kitchens, and much more. Amenities in the community include resort-style heated pool, a sun deck, outdoor pavilion, entertainment center, a bar with grills, a fitness center, and much more.