In 2017 Blue Heron secured an opportunity to invest as a co-GP in the development of a well-located, 336-unit apartment community in the fast-growing, high-income Sarasota, FL market (adjacent to Tampa-St. Petersburg). The developer is a group with whom Blue Heron had invested in the past (REALM Patterson Place in Durham, NC, Fund I; Jefferson Place in Frederick, MD, Fund II).


Closing on the land occurred in April of 2018. Construction is underway, with delivery of the first apartments anticipated for Q3 2019.