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Apartments sell for $33 million

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  • | 9:41 p.m. April 27, 2011
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BRANDON — Westbury at Lake Brandon Apartments, a 366-unit complex, sold for $33.1 million. Alliance Residential Co., a Phoenix-based firm, bought the apartments from Westbury Owner LLC.

At the time of sale, the property was 94% occupied, with average rents exceeding $975 a month, according to CB Richard Ellis, which brokered the deal.

The units, all with either two or three bedrooms, average 988 square feet. Amenities include a 5,000-square-foot clubhouse, lighted tennis courts, and a pool and spa.



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