Sarasota's Insula Cos. buys Park East Apartments

BUYER: FL Park East LLC (managers: Fred Cochran and Lawrence Fox), Sarasota
SELLER: AP MCD Ashton Park LLC
PROPERTY: 14609 Banyan Bluff Drive, Tampa
PRICE: $12.4 million
PREVIOUS PRICE: $11.08 million, October 2011
LAW FIRM ON DEED: Locke Lord LLP, Dallas

PLANS, DESCRIPTION:
Insula Cos. purchased the 192-unit Park East Apartments for $12.4 million.

The price equated to $64,583 per unit. That figure is lower than the average price per unit for multifamily space ($70,803) in the Tampa Bay area, according to the CoStar Group.