TAMPA, FL-Swan Lake Apartments, a 244-unit rental community in Tampa’s Carrollwood submarket, has traded for more than $12 million. The deal marks one in a string of recent multifamily sales in this hot rental market.
CB Richard Ellis brokers John Selby and Jim Bobbitt represented the seller, JER, a special servicer to bond holders. The buyer, Canadian-based private investment firm Toulon Capital Partners, did not have broker representation.
Selby tells GlobeSt.com that Swan Lake Apartments saw strong investor interest and sold above the $12 million asking price, demonstrating a highly competitive market for quality, stabilized multifamily assets. The multifamily asset is 94% occupied.
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