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Tampa Bay-Lakeland
Business Observer Monday, May 23, 2011 9 years ago

Lansbrook Village units sell

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A Chicago firm bought 509 of the 774 units in the Palm Harbor development.

PALM HARBOR — Waterton Residential, a Chicago-based residential community management firm, purchased 509 of the 774 units at Lansbrook Village in Palm Harbor. The price was not disclosed.

Lansbrook Village has 75 buildings situated on 85.8 acres of land. The units purchased by Waterton include a mix of one-, two-, and three-bedroom units, along with 17 four-bedroom apartments. Amenities include attached and detached garages, tennis and volleyball courts, and an enclosed dog park.

“We have a positive outlook on Tampa and the Florida market in general, so we were excited about making this move in a rebounding market,” says Max Peek, vice president of acquisitions with Waterton.

The purchased units will be absorbed into the company's Waterton Residential Property Venture XI, a $500 million discretionary multifamily investment fund.

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