South Tampa Apartment Complex Sells for $70 Million
The 259-unit property has lost $45 million in value since its $115 million sale in 2022.
The 259-unit property has lost $45 million in value since its $115 million sale in 2022.
The seven-property sale helps shrink a $20 million preferred equity obligation to about $4 million.
The Palm River purchase adds to a string of Tampa Bay investments by the apartment developer.
The national franchise is taking 2,650 square feet at Waterset Town Center.
The plan could replace a 13.8-acre senior living community with a new apartment development.
Rocky Point’s vacant Godfrey site will become a mixed-use development with hotel, apartments and retail.
A vacant Sheldon Road site is moving toward a 228-unit apartment development near Citrus Park Town Center.
The restaurant property sold for nearly four times its September 2024 purchase price.
The restaurant is still under construction, but its 55-year lease makes the site an investment.
The California coffee chain secured a Brandon site for at least 15 years.