TAMPA, FL-Hillsborough County has purchased a 76-unit apartment,the Cedar Pointe Apartments on Temple Palms Avenue, for $1.8million. The Neighborhood Stabilization Program fund was used forthe purchase of the property. The apartment units were sold forabout $24,000 per unit.

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The property was owned by Wells Fargo Bank when it tookownership in April 2009 over a defaulted loan. The sale of theproperty was managed by Jason Stanton and John Stone of ColliersInternational Tampa Bay. For the full story, go to Houston Business Journal.

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