TAMPA, FL-A private local investor has acquired Reflections, a264-unit apartment complex in Carrollwood, for $13 million. Theseller was Jackson Square Properties, a San Francisco-basedprivately-held real estate operating company.
Sean Lance, managing director and president of the TroubledAsset Optimization practice at NAI TampaBay, tells GlobeSt.com the$13 million price tag is in line with other class B and class Cmultifamily projects in the Tampa Bay area.
“This sale is part of the year-end flurry of multifamilyactivity that we typically see,” Lance says. “Investors are tryingto get deals done and banks are trying to get deals off theirbalance sheet. We have a number of closings lined up in the lastdays of 2010.”
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