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GAINESVILLE, FL-The 29-year-old, 176-unit Covered Bridge Apartments in this college town, 100 miles northwest of Downtown Orlando, has a new owner.

Covered Bridge Apartments, a limited liability company in Leesburg, VA, paid Dallas-based NLP Covered Bridge National Associates $7.9 million or $44,886 per unit for the property at 1810-23rd Blvd. NW.

Paul Guyet of Orlando-based Smith Equities Corp., arranged a $6.4 million acquistion loan for the buyer through Fannie Mae. The loan carries a fixed interest rate of 6.9% amortized over 30 years. Guyet’s associates, Gerald Smith and Darrell Johnson, brokered the deal.

The 974 sf average unit size reflects a sales price of $46 per sf. The average rent is $662 per month. The property is in Alalchua County.

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