A 248-unit Apartment complex in Sarasota sells for $35.5 million. $12+ million less then it sold for in 2005.

Cypress Mayfair Ltd., a Fort Lauderdale company managed by Peter W. Wright, sold a 248-unit apartment complex at 5010 Central Sarasota Parkway in Palmer Ranch to Sarasota Place Apartments Property Owner LLC for $34.5 million.

Pic via article in Herald Tribune - Michael Braga - Sarasota Apartments

Pic via article in Herald Tribune – Michael Braga – Sarasota Apartments

By Michael Braga via Inside Real Estate – Herald Tribune

Cypress Mayfair paid $46.6 million for the complex in October 2005.

Sarasota Place Apartments, a subsidiary of Los Angeles-based JRK Property Holdings, financed its purchase with a $27.6 million loan from Walker & Dunlop LLC.

For complete article, CLICK HERE <—-=====

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