Atlanta's Cortland Partners pays $78M for Island Walk, Gallery at Bayport II, land

BUYER: Harborside FL Apartment Partners LLC, Atlanta
SELLER: DCO Options 2 LLC
PROPERTY: 5365 Harborside Drive, Tampa
PRICE: $50 million
PREVIOUS PRICE: $16.95 million, April 2008

BUYER: Harborside FL Condo Partners LLC, Atlanta
SELLER: HPI Option 2 LLC
PROPERTY: the 5000 block of Baywater Drive, Tampa also known as various units, The Gallery at Bayport II Condominiums, Tampa
PRICE: $28.43 million
PREVIOUS PRICE: $14.13 million, October 2006
LAW FIRM ON DEED: Snell & Wilmer LLP, Denver

PLANS, DESCRIPTION:
Cortland Partners purchased two waterfront apartment complexes and vacant land from UDR Inc. for a total of $78.43 million. The Atlanta-based multifamily company purchased the 400-unit Island Walk apartments for $50 million and 277 of the 320 condominium units in the Gallery at Bayport II for $28.43 million.