The Colorado investor paid Tampa, FL-based Central Park Associates $8.35 million or $38,567 per unit for the property at 750 Central Park Circle.
The 1987 concrete block-constructed complex has 108 one-bedroom and 108 two-bedroom units. Rents range from $525 per month to $775. Marnie Connor in the Tampa office of Irvine, CA-based Sperry Van Ness/IRG Commercial, brokered the transaction, representing buyer and seller.
"Investors are continually looking for well-located communities that have excellent growth potential," Connor says in a prepared statement. "With Tampa Bay ranked as one of the top spots in the country for business, occupancy levels should remain high, providing Central Park Apartments LLC with a steady revenue stream."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
