THREE PALMS APARTMENT COMPLEX SOLD FOR $23.5 MILLION

TAMPA, FLA. — Jupiter, Fla.-based Landmark Residential has purchased the 438-unit Three Palms Apartments from a joint-venture between a Blackrock-managed fund and BH Equities for $23.5 million. Located on North Dale Mabry Highway in Tampa, the property is 90 percent occupied and recently underwent a $3.9 million renovation. Three Palms includes four pools, a heated spa and a fitness center. John Selby and Jim Bobbitt of CB Richard Ellis’ Tampa office represented the seller.