South Florida investor gains multifamily communities

Properties total 846 units

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Marcus & Millichap arranged the sale of the Wynnton Portfolio, a four-property apartment portfolio with locations in the Tampa, Fla., area. The total value of the transaction was approximately $45.3 million. Georgia-based H&G Partnership sold the property to Woodland Group of South Florida Inc. The four-property portfolio is comprised of 846 units and 857,112 square feet situated on 70 acres. Each property has a unit mix averaging nearly 1,000 square feet or above. The properties were constructed in the late 1960s and early 1970s of concrete block. New third-party management was recently put in place. The four properties in the sale included the 304-unit The Grandview Apartments, located at 305 Glades Circle in Largo; the 304-unit Palm View Apartments at 2680 54th Ave. S. in St. Petersburg; Granada Apartments, a 112-unit community located at 7015 N. 56th St. in Tampa; and the 126-unit Plantation Apartments at 10605 N. 56th St. in Temple Terrace. Encino, Calif.-based Marc...