Pearlmark Sells 216-Unit ShoreView Waterfront Apartments in Bradenton to Cedarwood Companies
Chicago-based Pearlmark has sold ShoreView Waterfront Apartments, a 216-unit Class A waterfront multifamily community in downtown Bradenton, Florida, to The Cedarwood Companies of Fairlawn, Ohio. Berkadia arranged the transaction, with Senior Managing Director Matt Mitchell and Director Chris Burtner of Berkadia Florida representing the seller. The sale price was undisclosed.
A Distressed-to-Disposition Exit
Pearlmark's path to the sale was unconventional. The Chicago-based firm had acquired ShoreView through a mezzanine lender foreclosure before broadly marketing the asset for sale. Pearlmark's foreclosure-based ownership history and the decision to bring the property to market broadly suggest the exit was shaped by capital structure stress rather than a routine sponsor-led disposition.
Completed in 2021, ShoreView Waterfront Apartments is a four-story, garden-style community located at 1161 3rd Avenue N in downtown Bradenton, directly on the Riverwalk overlooking the Manatee River. Its relatively young vintage, combined with its waterfront positioning, made it a distinctive offering in a market where such locations are difficult to replicate.
"ShoreView presented a unique opportunity to buy a rare, Class-A waterfront community with direct access to the Riverwalk," said Mitchell.
Property Details and Amenities
ShoreView Waterfront Apartments offers one-, two-, and three-bedroom apartment homes ranging from 760 to 1,416 square feet, with an average unit size of 1,024 square feet. Individual residences feature stainless steel appliances, plank flooring, walk-in closets, oversized wraparound balconies, walk-in showers, soaking tubs, and wine coolers.
Community amenities include a resort-style swimming pool, a clubroom with resident lounge, a fitness center, elevators, an outdoor fire pit, an outdoor kitchen and grilling area, a dog-washing station, EV charging stations, a package receiving area, on-site maintenance, storage units, and garages.
Downtown Bradenton's Growing Appeal
The transaction underscores the continued appeal of downtown Bradenton as a live-work-play submarket. The area, which overlooks the Manatee River, has seen increased development and commercial activity in recent years, supporting renter demand for walkable, amenity-rich environments. ShoreView's location provides residents with direct access to the Riverwalk and walkable proximity to restaurants, retail, entertainment, and cultural attractions.
The property also offers convenient connectivity to Anna Maria Island, Longboat Key, and the broader Gulf Coast. That combination of waterfront scarcity value and lifestyle access has made downtown Bradenton an increasingly competitive destination for multifamily capital.
Berkadia Brokers the Deal
Berkadia, through its Florida operations, arranged the sale on behalf of Pearlmark. Matt Mitchell and Chris Burtner led the assignment. The buyer, Cedarwood Companies, is headquartered in Fairlawn, Ohio. Financial terms of the transaction were undisclosed, and no loan details were released in connection with the sale.
The deal reflects a broader pattern in 2026 multifamily investment activity, with owners monetizing stabilized or recently completed assets in supply-constrained, amenity-rich locations while buyers target newer product with strong lifestyle positioning in markets with durable renter demand fundamentals.
Sources
Berkadia — ShoreView Waterfront Apartments, Bradenton, FL | Sold by Berkadia 2026