$40M Moves 614 Multifamily Units in Separate Deals

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TAMPA, FL-Three multifamily assets totaling 614 units have sold in separate parts of Central Florida in deals totaling $40.4 million. In the affluent Temple Terrace section of Tampa Bay, Miami-based Sonoma Park LLC paid New York City-based Praedium Group and Affirmative Equity Properties $17.8 million for Sierra Point apartments, which is currently 91% occupied. The 296-unit, 33-year-old asset is located at 8412 Rio Bravo Court. Darron Kattan of Marcus & Millichap represented the sellers. The buyer represented itself.

In Holly Hill, a suburb of Daytona Beach, Steven D. Bell & Co. of Greensboro, NC acquired the 150-unit Riviera Senior living facility at 1825 Ridgewood Ave. from Riviera Assisted Living LLC for $14.8 million. The property was originally developed as the Riviera Hotel in 1923.