TAMPA, FL-Atlanta-headquartered ARA's Central and North Florida offices have closed the sale of an apartment community in Palm Harbor situated within the Tampa Bay MSA. AREA Property Partners has purchased Sabal Palms at Boot Ranch, a community consisting of 432 units, for $44.2 million or about $100.25 per square foot.
At the time of the deal, the Class A investment property was 94% occupied. ARA represented the public REIT in the deal. For the full story, go to Florida Real Estate Journal.
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