SUN POINTE LAKE SELLS FOR $14.2M

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.”