Passco Cos., a privately held California-based commercial real estate company, has acquired a 300-unit luxury apartment community in Destin, Fla., for $63.45 million from Carter-Haston Real Estate Services.
The apartment community, known as Legacy on the Bay, is located at 251 Vinings Way Blvd.
This is Passco’s second multifamily asset acquisition in Destin in recent months, coming on the heels of the firm’s purchase of class AA Sea Glass Apartments in December, according to Colin Gillis, vice president of acquisitions for Passco.
“Due to our ownership of best-in-market Sea Glass Apartments, located just a few miles down the road from Legacy, we already have our finger on the pulse of the local market and resident demands,” said Gillis. “Through addi
