Oak Creek investors buy Garden Isles Apartments

BUYER: Garden Isles Tampa Apartments LLC (Garden Isles Management Inc.), Calabasas, Calif.
SELLER: 6919 RP Associates LLC
PROPERTY: 6919 Bonair Drive, Tampa
PRICE: $12.36 million
PREVIOUS PRICE: $15.8 million, September 2005
LAW FIRM ON DEED: Gibbons Neumann Bello Segall Allen & Halloran PA, Tampa

PLANS, DESCRIPTION:
A Los Angeles area investor group, led by Chaim Freeman of B.F. Management, purchased the 300-unit Garden Isles Apartments for $12.36 million.

The price equated to $41,200 per unit. That figure is lower than the average price per unit for multifamily space ($70,803) in the Tampa Bay area, according to the CoStar Group.