The apartment sector led the way this quarter for investment in the Northwest Florida region, with two substantial multi-family sales closing between January and the end of March for a total of $83,450,000.
Details of notable Investments Sales around the region this quarter included:
- 1. 4101 Commons Dr. – The Preserve at Henderson Beach sold on March 15 for $53,700,000. Trammell Crow Residential was the Seller, and Bluerock Residential Growth REIT the purchaser. The 340 Class A apartment community was built in 2009.
2. Carpenters Creek, located at 5918 N. Davis Hwy and Creekside, located at 9015 University Pkwy Senior Housing communities, sold on March 18 for $48,000,000. CNL Healthcare Properties was the seller and Capital Senrio Living Corp from Dallas, Texas was the buyer.
3. The Benchmark Group sold Cayo Grande Apartments, a 342 Unit Apartment community, for $29,750,000 to the Miller Frishman Group from Colorado.
4. A 49,994 SF Class B office building on 3101 Sessions Road sold on March 15, for $4,400,000 ($88.01/SF). The property is occupied by FBMC Benefits Management.
5. The Florida Institute of CPAs sold their building at 325 College Ave. for $4,000,000 to Florida State University on January 15th, 2016. The 27,593 SF Class A Office building was constructed in 1984.
6. Park Plaza, located at 13019 Sorrento Rd in Pensacola, Florida, sold for $3,775,000 at an approx. 9.35% Cap rate. The 48,000 SF Winn-Dixie Anchored Center was sold by Moulton Properties to a Mobile-based investment group on February 10.
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