Norfolk, Virginia-based Cohen Investment Group sold the property to South Florida-based Terra Equity Group.
The property traded above its initial pricing guidance, reinforcing an unyielding investor appetite for Central Florida multifamily.
The buyer was Southport Financial, one of the largest affordable housing developers/owners in the nation.
Franklin Street’s Tampa multifamily investment sales team represented the seller and the buyer in the all-cash transaction. CLICK ON THE HEADLINE FOR MORE
Ohio-based Bridgewater Apartment Partners, LLC acquired the property for $14.8 million, or $148,000 per unit, which represents the highest price per unit transaction ever for a similar vintage and asset class in Brevard County. CLICK ON THE HEADLINE FOR MORE
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