TAMPA-An affiliate of Miami-based developer Crescent Heights has acquired the 35-story The Element apartment tower here for $98 million.
The purchase price for the 395-unit tower at 808 N. Franklin St. was reported in the Tampa Bay Business Journal based on public record filings.
The property was part of a three-property multifamily sale valued at $234.6 million, according to deed and mortgage documents filed on Monday with the Hillsborough County Circuit Court.
The other two multifamily buildings are located in Chicago and Atlanta. Crescent also owns Slade and Lexington Park developments in Tampa.
Chicago-based ST Residential acquired The Element in a 2010 foreclosure proceeding. See story in the Tampa Bay Business Journal.
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