FIRM BUYS 280-UNIT APARTMENT FOR $16 MILLION

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TAMPA, FLA. — Northview Realty Group has acquired the 280-unit Lofton Place apartment complex from an undisclosed seller for $16 million. The 17-acre property, which is located at 5412 Deerbrook Creek Circle in Tampa, is 97 percent occupied. Features include a swimming pool, a spa and a fitness center. ARA Finance funded 75 percent of the transaction with a 10-year loan at a 5.66 percent interest rate. Kevin Judd of Apartment Realty Advisors’ Orlando, Fla., office, Dick Donnellan of the firm’s Boca Raton, Fla., office and Patrick Dufour of the firm’s Tampa office represented the seller.

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