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BUYER: Pine Cove Villas LLC (principals: Gilbert and Jean Hakim), Clearwater
SELLER: Florida Bank
PROPERTY: 1836, 1844, 1824, 1832, 1840, 1835 1834 and 1841 Villa Drive, Clearwater
PRICE: $1.63 million
PREVIOUS PRICE: $600,000, December 2009
LAW FIRM ON DEED: Shumaker Loop & Kendrick LLP, Tampa
PLANS, DESCRIPTION: Pine Cove Villas LLC, headed by the owners of Clearwater-based SCC Soft Computer, Gilbert and Jean Hakim, purchased the Pine Cove Villas west of Wolford Road south of Haines Bayshore Road for $1.63 million. The real estate research firm CoStar Group describes it as an two-story apartment complex with 36 units.
The purchase price equated to $54,167 per unit
Built in 1987, the complex has an average vacancy of 5%, according to the CoStar Group.
The purchase entity mortgaged the property to Branch Banking & Trust for $1.63 million.
Last year, another Hakim-led company purchased the 28,625-square-foot Tech Data training facility on Bay Vista Drive north of Roosevelt Boulevard for $2.9 million.
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