Commercial Real Estate, Capital, Insurance, Leasing & Management

Temple Terrace apartments sold for $23 million

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Franklin Street represented both the buyer and the seller in the sale of The Avenue Apartments, at 9101 Avenue Club Drive.

Excerpted from Tampa Bay Business Journal story.

A Temple Terrace apartment has been sold for $23.3 million.

Franklin Street said Thursday that it represented both the buyer and the seller in the sale of The Avenue Apartments, at 9101 Avenue Club Drive. The purchase price breaks down to $108,000 per apartment or $125 per square foot.

The buyer was The Avenue Apartments LLC, a local investor backed by Canadian equity partners. Bayside Ventures V LLC was the seller; Bayside paid $7.2 million for the property in 2011, according to Hillsborough County property records.

The Franklin Street team included Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger. Franklin Street’s Lonnie Kitchen provided insurance services.

For full story, visit https://www.bizjournals.com/tampabay/news/2018/12/20/temple-terrace-apartments-sold-for-23-million.html

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