Irvine, CA-based real estate investment firm Passco Companies has acquired Sea Sound Apartments, a newly constructed 300-unit, Class A multifamily property located in Panama City Beach, FL.
Cliff Taylor, Joe Ayers, Paul Berry and Don Hoffman of CBRE represented the seller, Columbus, GA-based Flournoy Development.
“Multifamily market fundamentals in the FL Panhandle have never been stronger,” said Ayers. “Since the onset of the pandemic, people from all over the country have been accelerating their plans to relocate to FL’s coastal communities.”
Passco Companies‘ new gated property at 10400 Panama City Parkway features four four-story buildings. Sea Sound Apartments residents have convenient access to large brand-name retailers less than one-mile from the property, as well as Breakfast Point Marketplace, a 110,000-square-foot shopping center. Additionally, one of Panama City Beach’s top destinations, the 1.1 million square foot open-air regional lifestyle center Pier Park, is located less than 10 minutes from the property.
