Henderson Hammock school sells for $11.45M

BUYER: Red Apple at Henderson Hammock LLC (RR Charter Trust), Fort Lauderdale

SELLER: Ryan Cos. US Inc.

PROPERTY: 10322 Henderson Road, Tampa

PRICE: $11.45 million

PREVIOUS PRICE: $775,000, February 2012

PLANS, DESCRIPTION: An affiliate of Charter Schools USA purchased the Henderson Hammock Charter School for $11.45 million.

The price equated to $179 per square foot.

The school has 64,000 square feet of space and 70 classrooms.

The charter school company's development partner, Ryan Cos. US Inc., purchased the approximately 16.5-acre property and developed the school. The charter school opened in August. Charter Schools USA always planned to buy the property back from Ryan Cos. US.

According to Scott Woodrey of Red Apple Development, the school is fully enrolled and has a waiting list for the grades it is currently serving (kindergarten through sixth). It plans to add seventh- and eighth-grade classes soon.

The purchase entity Red Apple at Henderson Hammock LLC mortgaged the property to Church Loans & Investments Trust for $11.56 million.