UDR Inc. has sold Summit West Apartments, a 266-unit multifamily community in Temple Terrace, according to Hillsborough County property records.
The property, at 11500 Summit West Blvd., traded to ARDG @ Summit West LLC in a deed recorded April 1.
The buyer financed the acquisition with a $33.25 million loan from The Bancorp Bank, N.A., secured by the property and its leases and rents.
Built in 1972, the community is one of the larger apartment properties in Temple Terrace. Units range from one to three bedrooms.
The property sits about 2 miles from the University of South Florida.
ARDG Capital, a New York-based firm that acquires and repositions apartment and commercial properties, lists Summit West among its active investments.
A representative for ARDG did not respond to requests for comment. Plans for the property were not disclosed.
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