Lakewood Ranch 272-unit apartment complex sells for almost $40 million
By Michael Braga, Herald-Tribune / Wednesday, September 26, 2012
Lost Creek Apartments LLC, a Winter Park company managed by Thomas L. Cavanaugh, sold a 272-unit apartment complex on 24 acres in Lakewood Ranch to Bradenton Multifamily DST for $39.25 million.
Lost Creek Apartments bought the land for $3.468 million in December 2010 and finished the complex at 11140 Lost Creek Terrace this year.
The one- to three-bedroom apartments rent for $950 to $1,450 per month.
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