Chicago company buys Dale Mabry apartments

BUYER: Liv at SDM LLC (DRW Real Estate Management I LLC), Chicago
SELLER: TMF11 LLC
PROPERTY: 3729 W. Tyson Ave., Tampa
PRICE: $1.75 million
PREVIOUS PRICE: $900,000, April 2012
LAW FIRM ON DEED: Englander Fischer LLP, St. Petersburg

PLANS, DESCRIPTION: An affiliate of Chicago's DRW Holdings LLC purchased the 48-unit South Dale Mabry apartments for $1.75 million.

The price equated to $36,458 per unit or $58 per square foot.

Built in 1973, the 30,192-square-foot, two-story community occupies a 0.91-acre site. The three buildings feature 36 one-bedroom and 12 two-bedroom units. Amenities include a swimming pool and three laundry facilities.

The apartment complex was recently renovated with improvements to the laundry facilities, landscaping, courtyard grills and a picnic table and a storage room and office. A number of the unit interiors were also renovated.

DRW's affiliate DRW Trading Group declined to comment on the purchase.

Kevin Kelleher, Darron Kattan, Robert Goldfinger and Zach Ames of Franklin Street Real Estate handled the transaction.

Purchase entity Liv at SDM LLC mortgaged the property to Branch Banking & Trust for $1.5 million.