TAMPA, FL—What’s old is soon to be (like) new again as investors scoop up a 1977 multifamily project in Dunedin, FL. Despite high occupancy, massive renovations are planned at Windemere Apartments.

Here’s the backstory: Windemere Ltd., a Florida limited liability partnership that owned the property since 1977, just sold the asset to Dunedin LLC, a Delaware limited liability company based out of Chicago, for a mere $10 million. The sale price represents $55,555 per unit and $58.41 per square foot.

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