Crescent Heights buys Element, pays $98 million, equal to 4% cap

  • By Business Observer Staff
  • | 10:12 a.m. November 8, 2013
  • | 0 Free Articles Remaining!
  • Commercial Real Estate
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BUYER: 808 Franklin LLC, Miami
SELLER: Element Marketing LLC
PROPERTY: 808 N. Franklin St., Tampa
PRICE: $98 million
PREVIOUS PRICE: $7.5 million, December 2006
LAW FIRM ON DEED: Greenberg Traurig PA, Miami

PLANS, DESCRIPTION: Miami-based Crescent Heights purchased the 395-unit Element apartment development in Tampa's Arts District for $98 million.

The price equated to $248,101 per unit.

 

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