- October 4, 2013
BUYER: JIK Palm Harbor LLLP (principals: Jay Kislak, Thomas Bartelmo and Stephen Braun), Miami Lakes
SELLER: Aimco Twin Lakes LLC
PROPERTY: 31790 U.S. 19 N., Palm Harbor
PRICE: $19.65 million
LAW FIRM ON DEED: Ballard Spahr LLP, Denver
PLANS, DESCRIPTION: Miami Lakes-based national real estate investment firm The Kislak Organization purchased the 262-unit Twin Lakes Apartments in Palm Harbor for $19.65 million.
The price equated to $75,000 per unit.
This garden-style apartment community features one- and two-bedroom apartment units with fireplaces, vaulted ceilings, wood flooring and bay windows. Community amenities include a swimming pool, clubhouse, volleyball and tennis courts, playground and car-care center.
Byron Moger and Luis Elorza of Cushman & Wakefield handled the transaction.
The Kislak Organization plans a variety of interior upgrades and the addition of a gym and dog park.
The Kislak Organization now owns five multifamily communities in Florida, and nearly 2,000 multifamily units nationwide.