36-Acre Waterfront

In March 2025, PENLER acquired a Class A garden-style community located in Waterside Place, a vibrant 36-acre waterfront town center in Lakewood Ranch, FL. Developed by Davis Development, a nationally recognized builder of premier multifamily properties, the community reflects high-end design, best-in-class construction, and a robust suite of resort-style amenities.

Built in 2021, the property offers residents contemporary interiors with modern finishes, expansive floor plans, and lifestyle-driven features. Its amenities include a resort-style pool, state-of-the-art fitness center, clubhouse with resident lounge, package lockers, and outdoor social spaces designed to complement the active Florida lifestyle.

Situated in a high-growth pocket of Sarasota County, the property benefits from its location within Waterside Place—a newly delivered town center featuring 844 multifamily units, 67,000 square feet of retail and dining, 50,000 square feet of office space, and an 8-acre park with marina access. Waterside hosts regular community events such as farmers markets, concerts, and seasonal festivals, creating a dynamic and walkable live-work-play environment.

The business plan includes a $1.5 million capital improvement program focused on enhancing both interiors and community spaces. Planned upgrades include:

• Interior enhancements: Smart-home technology packages and LVP flooring in all bedrooms.
• Exterior and amenity improvements: Property repaint, upgraded landscaping, and enhancements to amenity spaces to further elevate curb appeal and the resident experience.

This acquisition represents PENLER’s continued focus on investing in high-quality, well-located communities with long-term value and strong demand drivers.