New Tampa apartments sell for $38.4M

TAMPA — The Gardens at Cross Creek, an apartment community just east of New Tampa near Morris Bridge Road, has a new owner.

Centennial Cross Creek LLC, a subsidiary of the $300 million Centennial Real Estate Fund IV out of Atlanta, purchased the 290-unit complex May 12 for $38.4 million, or $132,400 per unit.

The complex was built in two phases in 2008 and 2014. Brevard County developers Ben Reiter and Daniel Reiter, through their company, Canterbury Gardens LLC, purchased the land in 2005 for $4.7 million.