Apartment complex sheds nearly $3 million in value

Apartments pictured are representative. Not the actual complex

By , Herald-Tribune / Tuesday, April 3, 2012
Villa Palma of Sarasota Inc., a Sarasota subsidiary of Liberty Savings Bank, has sold an 18-unit apartment complex at 8902 Silkwood Court in Sarasota to Silkwood of Sarasota Realty LLC for $1.365 million.The chain of duplex villas were formerly owned by Silkwood Court LLC, a Sarasota company managed by serial condo converter Warren Hickernell.Hickernell and his investment group bought the buildings for $4.05 million in March 2006 and lost them to foreclosure in September 2007.

Silkwood of Sarasota Realty, a Longboat Key company managed by Robert K. Lesser, financed its purchase with a $900,000 loan from Florida Shores Bank.

For other articles, click here <——
Advertisements

Leave a comment

Filed under Commericial Real Estate Articles & News, Investment Real Estate

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s