Multifamily investor Mallah buys Park Place Apartments

BUYER: Park Place Apartment Properties LLC, Largo
SELLER: MAPT Inc., F-D Apartments LLC and Richmond Apartments LLC
PROPERTY: 4620-4666 DeLeon St., Fort Myers
PRICE: $7.4 million
LAW FIRM ON DEED: Henderson Franklin Starnes & Holt PA, Fort Myers

PLANS, DESCRIPTION: Largo multifamily investor Benjamin Mallah purchased the 174-unit Park Place Apartments for $7.4 million.

The price equated to $42,500 per unit.

The 158,956-square-foot, two-story apartment complex features 16 buildings on a 6.35-acre site. The community was built in 1973. Units in Park Place Apartments average 895 square feet, according to the CoStar Group. Amenities include a business center, clubhouse, fitness center and a swimming pool.

The purchase entity Park Place Apartment Properties LLC mortgaged the property to USAmeriBank for $5.77 million.