Sherman Real Estate Fund, partners buy Arlington at Northwood

BUYER: BES Northwood Fund IX LLC (28.8439% interest), BES Northwood Fund X LLC (43.2659%), Bell Northwood LLC (23.2418%) and Emanuel Northwoods LLC (4.6484%), Deerfield, Ill.
SELLER: Arlington Northwoods Apartments Inc.
PROPERTY: 1930 Devonwood Drive, 1827 Thornhill Road and 1831, 1857 and 1910 Nadine Road, Wesley Chapel (additional addresses as well)
PRICE: $36.1 million
PREVIOUS PRICE: $26.21 million, August 2006
LAW FIRM ON DEED: Ingram Yuzek Gainen Carroll & Bertolotti LLP, New York City

PLANS, DESCRIPTION:
Deerfield, Ill.-based Sherman Real Estate Fund IX LLC and two of the fund's trade partners purchased the 312-unit Arlington at Northwood Apartments for $36.1 million.

The price equated to $115,705 per unit. That figure is more than the average price per unit ($70,803) for multifamily space in the Tampa Bay area, according to the CoStar Group.