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Distressed Multifamily Quartet Trades at Deep 66% Off

TAMPA, FL-Franklin Street's Kevin Kelleher tells GlobeSt.com's Jennifer LeClaire that the economic occupancy stood at about 50% at the time of sale.

By Jennifer LeClaire | Updated on November 28, 2011

TAMPA, FL-A quartet of distressed multifamily communities has traded for a meager $1.4 million. The sales price equals $13,207 per door—or $22.51 per square foot.

Franklin Street’s Kevin Kelleher, Bob Goldfinger and Darron Kattan represented both the buyer and the seller in the REO transaction. The seller was an unnamed lender that foreclosed on the property in June 2011. The buyer is a Tampa-area private investment group.

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