John Patterson and Karen Wankelman Facilitate Successful $8.6M Manatee County Transaction

Business

SRQ DAILY WEDNESDAY PHILANTHROPY EDITION WEDNESDAY APR 22, 2020

Shutts & Bowen LLP partners recently represented the buyer of Bradenton’s waterfront tower, Plaza Del Rio, in a successful transaction totaling $8.6 million. Sarasota partner John Patterson acted as lead attorney for the buyer of the 78,553-square-foot office tower. Orlando partner Karen W. Wankelman, was responsible for the legal representation of the buyer in connection with the $6,888,000 mortgage loan with SerisFirst Bank. John represented the buyer throughout the entire acquisition process, including due diligence prior to the auction, negation of the purchase terms, and closing. Built in 1986, the seven-story building located at 101 Riverfront Boulevard is occupied by a mix of legal, corporate and medical tenants, pulling business from across Florida’s Gulf Coast. The Plaza Del Rio is well-located along U.S. Route 41, featuring iconic and highly recognizable architectural elements, as well as a traffic count of 64,500 cars per day. It was put up for online auction in February before being acquired by the local investor group.

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