Lofton Meadows sells for $11 million to Davie's JBH Equities

BUYER: Bradenton Reserve LLC (88% interest), Las Vegas and Samella Properties LLC (12%), Davie
SELLER: El Conquistador Partners LLC
PROPERTY: 6050 34th St. W., various units, Bradenton
PRICE: $11.2 million
PREVIOUS PRICE: $8.5 million, September 2008
LAW FIRM ON DEED: Hunton & Williams LLP, Richmond, Va.

PLANS, DESCRIPTION:
Davie-based JBH Equities purchased the 166-unit Lofton Meadows community for $11.2 million.

The price equated to $67,470 per unit. That figure is in line with the average price per unit for multifamily space ($70,803) in the Tampa Bay area, according to the CoStar Group.