Miami apartment owner buys Live Oak Landings

BUYER: Live Oak Apartments LLC (Paul Steinfurth), Miami

SELLER: Live Oak Landings LLC

PROPERTY: 2232 N. Spring Glade Circle, Tampa

PRICE: $2.35 million

PREVIOUS PRICE: $1.02 million, July 1995

LAW FIRM ON DEED: Beighley Myrick & Udell PA, Pompano Beach

PLANS, DESCRIPTION: An investment group led by Paul Steinfurth of Miami purchased the 81-unit Live Oak Landings for $2.35 million.

The price equated to $29,012 per unit.

Built in 1981, the 47,952-square-foot complex, which has since been renamed Live Oak Apartments, is currently 93% leased. The development features 576-square-foot, one-bedroom units 860-square-foot, two-bedroom units and 288-square-foot studio apartments. Its amenities include a laundry facility and two grill pits.

A representative for the complex says the new ownership is still putting together its plans to change the property.

Recently, a similar Steinfurth-led group purchased the 82-unit Lakewood Apartments in Brandon for $2.15 million or $26,220 per unit.

Purchaser Live Oak Apartments LLC mortgaged the property to Branch Banking and Trust Co. for $2.04 million.