(Read more on the multifamily market.)
GULFPORT, MS-Six years after building the 200-unit Cambridge Apartments, the Purvis-based developer has decided it was time to sell the class A asset. The complex ended up trading hands to a Salt Lake City buyer for $16 million in an off-market transaction.
Jessica Murks, commercial sales broker with Coldwell Banker Alfonso Inc. in Gulfport, says the developer was ready to sell because of an increasingly active market thanks to the post-Katrina recovery. Murks says she approached RealSource Holdings LLC, which already had a presence in the area, about buying the complex at 10900 E. Taylor Rd.
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