Pioneering BFR developer Wolfson Development announces the final Cantabria sale in Bradenton, FL to an institutional buyer affiliate for $59 million.

 

 Adam Wolfson

Bradenton, FL, May 05, 2023 — Wolfson Development Co., the first large scale BFR developer in the state of Florida, announces the last unit sale in their Cantabria BFR facility in Bradenton, FL to an institutional buyer, a Wolfson Development affiliate, for $59 million.

 

(Build-for-Rent, BFR,  properties, a sub-segment of the Single-Family Rental market, SFR, are purpose-built housing to be operated as single-family rental investments. This increasingly popular concept within the multifamily industry currently makes up an estimated 10 percent of new homes built in the U.S., according to industry builders)

As the lead and managing partner of the project, Wolfson Development built Cantabria Bradenton in conjunction with Lennar, one of the largest publicly-traded home builders in the US.

 

The project appeals to the influx of renters requiring more living space and amenities than  traditional apartments without the hassle and hurdles associated with  home ownership.

“Wolfson Development is dedicated to  expanding its pipeline across the US with a heavy focus on states exhibiting high population and job growth and lower tax environments— especially our home state of Florida," said Adam Wolfson.

 “The Cantabria project in Bradenton is a testament to that commitment and we’re more than excited to announce the completion of the last unit sales.”

Cantabria, Bradenton sits on 36 acres in the increasingly populated town of Bradenton, FL. Cantabria is a purpose-built rental community of 184 units— 172 attached townhomes and 12 detached single-family homes.

 

The three and four bedroom single family and townhouse units are equipped with attached garages and state-of-the-art amenities such as a clubhouse, fitness center, pool, walking trails, picnic areas and private yards.

 Wolfson Development has a pipeline of nearly 2,000 units, including this transaction, and nearly $1 billion in exit value. The deal was made in partnership with Transcendent Investment Management and Dan Armistead.

 

Founded in 2012, Wolfson Development has shifted to a nearly exclusive BFR focus since 2017. Today, Wolfson Development has a full-time focus on solving the now multi-generational challenges caused by the persistent undersupply of both rental and for-sale housing.

 

 

CONTACTS:

 

John Carter

jcarter@arrocomm.com 

wolfsondevelopment.com