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Business Observer Friday, Jan. 6, 2006 12 years ago

Real Estate Briefs (Tampa)

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North Florida investment group buys apartmentsIndustrial site acquired by national company
by: Adam Hughes Staff Writer

Real Estate Briefs (Tampa)

North Florida investment group buys apartments

BUYER: North Tampa Holdings LLC

SELLER: Norma Investment Holdings LLC

PROPERTY: 5901 E. Gibson Ave., Temple Terrace

PRICE: $4,425,500

PREVIOUS PRICE: $1.9 million, December 2003

TITLE COMPANY ON DEED: Fuentes & Kreischer Title Co., Tampa

PLANS, DESCRIPTION: North Tampa Holdings LLC, based in North Fernandina Beach, bought Gibson Court, a 118-unit apartment complex in Temple Terrace, built in 1973.

Joseph DeRoma, the registered agent for the group, says the complex will remain apartments. The group doesn't intend to convert them to condominiums.

Industrial site acquired

by national company

BUYER: Quality Trailer Products LLP

SELLER: Rockwell American Management Co. Ltd.

PROPERTY: 3804 Sydney Rd., Plant City

PRICE: $3 million

PREVIOUS PRICE: $1.5 million, October 1999

LAW FIRM ON DEED: Robert H. Miller, Esq., Columbus, Ohio

TITLE FIRM ON DEED: First American Title Insurance Co., Clearwater

PLANS, DESCRIPTION: Quality Trailer Products, a division of St. Cloud, Minn.-based Polar Corp., a manufacturer and distributor of light- and heavy-duty trailer parts, bought six buildings in a Plant City industrial park from Rockwell American Management, formerly known as MTEC International Ltd.

The property purchase was part of Polar Corp.'s acquisition of MTEC, which is intended to strengthen the company's position in trailer parts distribution and marine market on the Gulf Coast. RWH Group Ltd. of Dallas sold MTEC.

Polar now operates 36 facilities and has about 1,100 employees.

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