Millbrook Properties Ltd. acquired the 111-unit Cornerstone Pointe Apartments at 301 Seacrest Dr. in Largo, FL from Bayside Ventures II LLC for $10.55 million, or about $95,000 per unit.
The 113,100-square-foot multifamily building was built in the early 1970s with 37 one-bedroom and 74 two-bedroom apartments across eight buildings. The asset was 98 percent occupied at the time of sale.
Kevin Kelleher, Darron Kattan, Zach Ames and Robert Goldfinger with Franklin Street represented the seller. Kelleher also represented the buyer in the sale.
Please see CoStar COMPS #3900569 for additional information on this transaction.