Tampa's Cypress Run sells for $22.14 million

BUYER: Landmark at Grayson Park LP, Juniper

SELLER: Cypress Run Investment Property LLC

PROPERTY: 15501 Bruce B Downs Blvd., Tampa

PRICE: $22.14 million

PREVIOUS PRICE: $23.75 million, April 2005

LAW FIRM ON DEED: Howard A Kantrowitz Esq., Miami

PLANS, DESCRIPTION: Landmark Residential purchased the 408-unit Cypress Run at Tampa Palms apartment for $22.14 million.

The price equated to $54,253 per unit.

The property features a swimming pool, dog park, clubhouse, fitness center and racquetball and tennis courts.

Built in 1988, the 338,200-square-foot development occupies a 69.21-acre site south of Bruce B Downs Boulevard. Built in a number of three-story buildings, the property features large units that average 828 square feet, according to the real estate research firm the CoStar Group Inc.

The property has since been renamed Landmark at Grayson Park.

Landmark Residential owns eight other apartment complexes in the Gulf Coast region, including Lofton Meadows, the Landmark at Avery Place, Landmark at Grand Palms, Milana Reserve, Courtyards On The River, Avondale by the Lakes, Landmark at Largo Crossing and Landmark at Savoy Square.