Sale closes on Puritan Place apartments

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Marcus & Millichap negotiated the sale of the Puritan Place apartment community in Tampa, Fla. The value of the transaction was approximately $10.3 million. Built in 1970, Puritan Place is located at 7903 Holly Lea Court. The 232-unit apartment community consists of eight efficiency units, 120 one-bedroom units, 80 two-bedroom units and 24 three-bedroom units. The units range in size from 529 square feet to 1,169 square feet. Amenities include three laundry facilities, two swimming pools, a picnic area with benches and a playground. Recent property renovations include new roofs, new vinyl siding, wood replacement, new balconies, interior renovations, new fencing, new signage, improved landscaping and a new parking lot. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....