Multifamily

TAMPA, FLA. — Sun Pointe Lake, a 350-unit multifamily community at 14200 Bruce B. Downs Blvd. in Tampa, has traded for $14.2 million. A Miami-based private investor sold the property to an Alabama-based student housing operator. Sun Pointe Lake was built in 1981 and is situated on approximately 21 acres near the University of South Florida. Bob Goldfinger, Darron Kattan and Kevin Kelleher of Tampa-based Franklin Street Real Estate Services represented both parties. “The buyer saw the opportunity to redevelop this apartment community into a fully furnished, master-metered student property,” says Goldfinger. “They will spend significant capital to modernize the property allowing it to compete with newer construction community around the University of South Florida.”

STAFFORD COUNTY, VA. — A 5,200-square-foot loft-style apartment building with a ground-floor restaurant in the Historic Falmouth District in Stafford County has traded. 103 West Cambridge LLC purchased the property from Hugh Arthur Mooney as an owner-occupied investment. Paul Eakin of Cushman & Wakefield/Thalhimer represented the buyer.

LOUISVILLE, KY. — Berkeley Point Capital LLC has facilitated a $28.1 million loan insured by the Federal Housing Administration (FHA) for the construction of Claibourne Crossing, a 242-unit garden-style apartment community that will be located near the Lake Forest residential development and golf course in Louisville. The multifamily property will feature one-, two- and three-bedroom units in 19 two- and three-story buildings. Amenities will include a clubhouse, fitness center, business center, conference room, game room, playground and pool. TDK Construction is designing and developing Claibourne Crossing.