Foreign investment group buys Palmetto's Oakwood Village

BUYER: Invest P.I. LLC (manager: Manuel Rebecchi), Sarasota
SELLER: Metis Oakwood LLC
PROPERTY: 900 E. 21st St., Palmetto
PRICE: $3 million
PREVIOUS PRICE: $2.23 million, July 2000
LAW FIRM ON DEED: Hill Ward Henderson, Tampa

PLANS, DESCRIPTION:
A foreign investor group led by Manuel Rebecchi of Sarasota purchased the 120-unit Oakwood Village apartments for $3 million.

The price equated to $25,000 per unit. That figure is less than the two-year average price per unit for multifamily space ($72,609) in the Tampa Bay area, according to the CoStar Group.