TerraCap Investment firm buys Bradenton's Harbour Pointe

BUYER: Harbour Pointe Apartments LLC (managers: Walter S. Hagenbuckle), Bonita Springs
SELLER: Sands Bay Apartments LLC and Sands Bay MK LLC
PROPERTY: 4501 W. 71st St., Bradenton
PRICE: $21.12 million
PREVIOUS PRICE: $5.69 million, September 2014
LAW FIRM ON DEED: Kevin A. Denit PA, Naples

PLANS, DESCRIPTION:
An investment firm of TerraCap Management LLC purchased the 234-unit Harbour Pointe of Bradenton Apartments for $21.12 million.

The price equated to $90,235 per square foot. That figure is higher than the two-year average price per unit for multifamily space ($72,609) in the Tampa Bay area, according to the CoStar Group.