"We've been focused on this opportunity for quite some time andwe're excited about acquiring such a tremendous asset," says StevenShores, Pollack president. "We will continue to focus on theacquisition of unique, special-situation multifamily assets in theSoutheast."
Cushman & Wakefield represented seller GE Capital, whichforeclosed on the property last year. The new owner will marketremaining units for sale and rent unsold units, while individualinvestors will retain ownership of 72 additional condos.
Bay Isle Key is Pollack's second multifamily property in theTampa Bay market. The firm recently finished development of theFive West apartment complex in Tampa's Westshore submarket.
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