Cortland grabs second complex in Brandon

BRANDON -- For the second time in the past week, Atlanta redeveloper Cortland Partners has purchased a Tampa area apartment complex. This time, Cortland Partners bought the Carlyle at Crosstown in Brandon for $41.2 million.

Cortland, which acquired Camden Bayside in Tampa late last week for $85.1 million, paid $137,300 per unit for this complex, originally built in 2009.

Another Atlanta multifamily owner, JMG Realty, bought the complex in 2011 for $35.3 million, or $117,500 per unit, according to published reports at the time. JMG had partnered with HighPoint Holdings LLC of Birmingham, Ala., to buy what was then the Circle at Crosstown, as well as a 336-unit complex in Jacksonville.