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BUYER: Apartments at Double Branch LLC (principals: Kristin Miller, David Salzman, Todd Fabbri, Gina Dodge and Doreen Cole), West Palm Beach
SELLER: Charles Bruck as trustee of the Double Branch Land Trust
PROPERTY: 8308 Double Branch Road, Tampa and 12802 Saddle Club Circle, Tampa (likely future address)
PRICE: $2.88 million
LAW FIRM ON DEED: Broad and Cassel PA, Boca Raton
PLANS, DESCRIPTION: The Richman Group of Florida Inc. purchased 20 acres on a portion of Double Branch Road south of West Hillsborough Avenue for $2.88 million.
The price equated to $144,000 per acre.
The West Palm Beach developer has hired contractor First Florida LLC to construct a 240-unit apartment complex on the site. The 14-building development will feature two tennis courts, a clubhouse, swimming pool, playground and six-bay garage. The unnamed community will be gated.
The purchase entity Apartments at Double Branch LLC mortgaged the property to SunTrust Bank for $23 million.
Earlier this year, the firm purchased 6.15 acres of vacant land across from Clearwater Mall to build the 108-unit Apartments at Lakeside. That project is scheduled for completion later this year.
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