8/5/2008

NAI brokers sale of Tampa Bay apartment complex for $13.7M

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Asset Development & Management Group has purchased a 232-unit Class B apartment community in Tampa Bay, Fla., for $13.7 million.

John Burpee, T. Sean Lance, Casey Babb and Bill Renje of NAI represented the seller in the transaction.

Located at 8730 N. Himes Ave., the property known as Altamonte Apartments was formerly converted into condominiums, but no units were sold.

It was converted back into an apartment complex and the transaction eventually ended up as a deed-in-lieu of foreclosure.

Address: 8730 N. Himes Ave., Tampa, Fla.

Size: 232 units

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Filed Under: Multi-Family

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