Grayco Inc., a private investment group in Richmond, VA, soldthe 27-acre, lakefront property and an undisclosed amount ofadjoining vacant developable land. The site is at 7501 Ulmerton the intersection of Ulmerton and Belcher Roads.

The two-story concrete block and stucco Monterey LakesApartments comprises 144 one-bedroom/one-bathroom units; 140two-bedroom/two-bathroom floor plans; and 40three-bedroom/two-bathroom units. Living area ranges from 806 sf to1,325 sf.

Stephen St. Clair, a senior investment broker in the Orlandooffice of Marcus & Millichap Real Estate Investment BrokerageCo., represented Grayco.

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