NY Buyer Pays $28M for Fractured Condo

A New York buyer operating under the name Crosswynde Owner LLC acquired 252 units of the 453-unit Crosswynde Apartments. The investor paid the Rhode Island seller $28.3 million for the units at 1502 Marsh Cove Court in Tampa, FL. Crosswynde was a failed condominium conversion from the 2007 crash of

Source: www.connect.media

Vertica Partners’ principals Sean Lance and Max Boehmer arranged the $28 million sale of 252 fractured condo units in the Crosswynde community located in Tampa, Florida.

NorthMarq Capital Arranges $31.5M Construction Loan for Multifamily Project in Tampa | REBusinessOnline

Source: rebusinessonline.com

Cortona South Tampa, a 300-unit multifamily property located at 5145 S. Dale Mabry Highway in Tampa, just received construction funding. The gated development will feature a two four-story apartment buildings and 20 two-story townhome buildings, as well as a 6,000-square-foot clubhouse with a resort-style swimming pool and recreation areas. The three-year loan has a two-year extension option through a regional bank. The loan features interest-only payments for the primary term and a 25-year amortization schedule for the extension.

Townhomes Take Off

Lennar’s Tampa Bay division sees a rise in popularity of attached homes.

Source: www.builderonline.com

Lennar has expanded their urban high density for sale residential product to a townhome project called West End in the North Hyde Park area of Tampa, Florida.

Atlanta Braves unveil Sarasota spring training complex – Tampa Bay Business Journal

The $75 million to $80 million complex would have 9,000 seats.

Source: www.bizjournals.com

The Atlanta Braves unveiled plans Tuesday for a new $80 million spring training complex in Sarasota County.

 

The Braves indicated the team would have a 30-year lease and begin playing at the 9,000-seat facility in 2019. The Braves will operate the facility year-round, for spring training and for a club baseball academy.

 

This is a great addition to the county and will help support a variety of commercial, hospitality and residential properties.