Cushman & Wakefield Negotiates Sale Of Portofino Apartments
1 Aug, 2007, Tampa, FL
Cushman & Wakefield’s Florida Apartment Brokerage Services with apartment specialists in Tampa, Orlando, Ft. Lauderdale and Miami, announces the sale of Portofino Apartments. The purchaser was Providence Management Company. Portofino was a condominium conversion that had sold 10% of its units. This transaction represents the sale of all unsold condominium inventory to a buyer who will operate the property as a rental.
Executive Director Byron Moger and Director Luis Elorza of Cushman & Wakefield negotiated the sale on behalf of the owner, Precision Development, LLC.
Portofino, located at 8702 New Tampa Boulevard, was completed in 1999. It is a 396-unit garden apartment community located in affluent New Tampa. New Tampa is an established neighborhood with one of the highest single-family home prices in Hillsborough County and over two million square feet of Class A office space. The property is adjacent to West Meadows and within walking distance of schools, shopping and restaurants.
“This is the first sale to close of its kind. We give a lot of credit to the buyer for his perseverance and foresight,” said Byron Moger of Cushman & Wakefield.
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