TAMPA, FL-Hillsborough County has purchased a 76-unit apartment, the Cedar Pointe Apartments on Temple Palms Avenue, for $1.8 million. The Neighborhood Stabilization Program fund was used for the purchase of the property. The apartment units were sold for about $24,000 per unit.
The property was owned by Wells Fargo Bank when it took ownership in April 2009 over a defaulted loan. The sale of the property was managed by Jason Stanton and John Stone of Colliers International Tampa Bay. For the full story, go to Houston Business Journal.
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