ARA Newmark Brokers $82.4M Sale of Multifamily Community in Metro Tampa

PALM HARBOR, FLA. — ARA Newmark has brokered the $82.4 million sale of Lansbrook Village, a 774-unit apartment community located in the Tampa suburb of Palm Harbor. The property features 152 individually owned units that weren’t part of the transaction. Pritzker Realty Group developed Lansbrook Village in three phases — Windsor in 1998, Cambridge in 2002 and Hampton in 2004. The development’s amenities include three swimming pools, two expansive clubhouses and gathering areas, a fitness center, business center, three new outdoor kitchens, two tennis courts, volleyball court, pet playground and a car-care station. Patrick Dufour, Scott Ramey and Ryan Crowley of ARA Newmark represented the sellers, Atlanta-based Carroll Organization and New York-based Bluerock Real Estate, in the transaction, which involved a loan assumption. Carroll Organization decided to buy back into the acquisition by replacing Bluerock as the equity. The company will continue to pursue buying Lansbrook Village’s individually owned units.