A Miami Beach-based brokerage arranged the sale of a 319-unit apartment complex in Tampa for $46,645 per unit.
GLT Group Brokerage represented the out-of-state seller and procured the buyer of the rental property, called Jasmine Terrace Apartments, which sold for $14.88 million.
In a press release, GLT said the buyer planned to invest in an upgrade of the class B apartment complex in north Tampa, near the University of South Florida and Busch Gardens.
The complex of one- and two-bedroom apartments is located on a 14.5-acre site at 1250 Skipper Road in Tampa.
GLT Group Brokerage is part of GLT Group LLC in Miami Beach, started in 2013 by Sean Ziv and Ran Ziv.
The Tampa-area apartment market is “very strong with no signs of cooling down in the near future,” Sean Ziv, CEO of GLT Group, said in a prepared statement. – Mike Seemuth