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Tampa Bay-Lakeland
Business Observer Thursday, May 19, 2011 9 years ago

Apartments sell for $2.5M

Sandanay and Stonehenge, a 100-unit property in Tampa, sold this week.

TAMPA — Sandanay and Stonehenge, a 100-unit apartment property in Tampa, sold for $2.5 million earlier this week. Located at 13132 N. 19th St., the property features four two-story garden apartment buildings built in the 1960s that sit on 2.3 acres of land.

Marcus & Millichap Real Estate Investment Services brokered the deal and announced the asset's sale price in a release this week. Although neither party was identified specifically, senior investment specialist Casey Babb did say the seller was “a partnership based out of Florida,” and the buyer was “a foreign investment group.”

“As far as we know,” Babb adds in a release, “Sandanay-Stonehenge was the first non-distressed property to trade in the University Tampa submarket in over three years. The seller had owned the property for over 15 years and financed 74% of the purchase price for the buyer.”

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