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Charter Schools USA buys its two bay area schools

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  • | 1:41 p.m. October 7, 2011
  • Commercial Real Estate
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BUYER: Red Apple at Woodmont LLC
SELLER: Ryan Cos. US Inc.
PROPERTY: 10402 N. 56th St., Temple Terrace
PRICE: $9.7 million
PREVIOUS PRICE: $3.75 million, March 2011

BUYER: Red Apple at Winthrop LLC
SELLER: Ryan Cos. US Inc.
PROPERTY: 6204 Scholars Hill Lane in Riverview
PRICE: $9.3 million
PREVIOUS PRICE: $2.21 million, April 2011

LAW FIRM ON DEED: Ryan Cos. US Inc., Minneapolis

PLANS, DESCRIPTION: The Ryan Cos. sold a 57,886-square-foot former Verizon call center building in Temple Terrace and a new two-story building in Riverview to Red Apple Development for a total of $19 million.

The Ryan Cos. built the 50,000-square-foot building next to The Winthrop Barn in Riverview property and renovated the call center to serve as a new public charter school facility.

Red Apple Development is the school development arm of Fort Lauderdale-based Charter Schools USA. It was always expected to take ownership of the properties.

The Winthrop property is being called the Winthrop Charter School, and the Temple Terrace building is known as Woodmont Charter School.

Red Apple Development mortgaged the two properties to the Church Loans & Investments Trust dba CLI Capital for a total of $19.32 million.



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