TARPON SPRINGS, FL-A partnership of Global Real Estate Trading and SPVI, LP of the United Kingdom has purchased a five-acre townhome property here for $2 million.
The deal reported by Commercial Asset Partners Realty based in Trinity, FL involves six developed townhomes, 62 townhome pad sites and 58 private waterfront docks on Callista Cay Loop with access to the Gulf of Mexico.
Global Real Estate Trading, which owns additional properties in Jacksonville, FL and is looking to acquire more properties in the Tampa Bay area, expects to complete development of the community within nine months, CAP Realty officials say.
CAP Realty's Kim Lohry represented Global Real Estate Trading and SPV1, L.P., a developer based in the United Kingdom. The seller was WD Development, LLC.
“We've been seeing more and more international buyers coming into the marketplace,” says Lohry. “It's cash purchases that are making it to the finish line, and international buyers have the cash and wherewithal to close deals.”
Global Real Estate Trading plans to market the new townhomes at Callista Cay to international buyers and investors at prices ranging from $150,000-$200,000 per unit.
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