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Multifamily Project Sells in Five Days to 1031 Buyer

TAMPA-Franklin Street's Darron Kattan tells GlobeSt.com's Jennifer LeClaire that he's seeing a rise in 1031 exchange buyers.

By Jennifer LeClaire | Updated on September 22, 2011

TAMPA-In a deal that was part of a 1031 exchange, the Villas at Legends Field Apartments has traded for $3.35 million. The sale represents $42,949 per unit and $73.02 per square foot.

Franklin Street managing directors Darron Kattan and Bob Goldfinger, along with director Kevin Kelleher, represented the seller, a South Florida-based private apartment owner who also managed the asset. The seller has a significant presence in the Tampa market. Franklin Street also represented the buyer, a private investor from California.

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