National company pays $58.5 million for apartmentsNaples investors purchase Clearwater complex
Real Estate Briefs (Tampa)
National company pays
$58.5 million for apartments
BUYER: Tampa Palms Tarragon LLC, Fort Lauderdale
SELLER: The Preserve at Tampa Palms LLC
PROPERTY: 17220 Commerce Park Blvd., Tampa
PRICE: $58.5 million
PRIOR SALE: $28 million, 2001
LAW FIRM ON DEED: Arvin J. Jaffe PA and Broad and Cassel, Boca Raton.
PLANS, DESCRIPTION: Tarragon Corp., an urban home builder specializing in the development of high-density residential communities, bought The Preserve at Tampa Palms, a 19-building complex built in 2002 by The Altman Cos. of Boca Raton.
The luxury apartment complex includes a 7,800-square-foot clubhouse facility and 394 upscale apartment homes. It is located in northeastern Hillsborough County off Commerce Park Boulevard, west of Bruce B. Downs Boulevard.
New York City-based Tarragon, which completed the transaction Oct. 3, did not return a telephone call for comment. But a company statement says its four core markets are Florida, the Northeast, Texas and Tennessee. Revenue for Tarragon for the nine months ended Sept. 30 was $425.4 million.
Naples investors purchase
BUYER: Edmark/Vinings LLC
SELLER: City National Bank Florida, as trustee
PROPERTY: 2652 McMullen Booth Road, Clearwater
PRICE: $40 million
PRIOR SALE: Not available
LAW FIRM ON DEED: William E. Shockett, Miami
PLANS, DESCRIPTION: Naples-based Edmark/Vinings LLC bought The Vinings at Countryside, a 288,846-square-foot apartment complex in Clearwater.
The company's registered agent, J. Thomas Conroy III, a Naples attorney, did not return a telephone call for comment. Edmark/Vinings obtained a $20 million mortgage from Key Bank, N.A.