Tampa nonprofit buys Southland Apartments

BUYER: HFSF 2 LLC (principal: David Reed), Tampa
SELLER: Reel Properties of Tampa Bay Inc.
PROPERTY: 3716 and 3717 W. Wyoming Ave., Tampa
PRICE: $2.16 million
PREVIOUS PRICE: $3.96 million, April 1999
LAW FIRM ON DEED: Trenam Kemker, Tampa

PLANS, DESCRIPTION:
An unnamed nonprofit purchased the 48-unit Southland Apartments for $2.16 million.

The price equated to $45,042 per unit or $65 per square foot. That per-unit figure is lower than the average for multifamily space ($70,803) in the Tampa Bay area, according to the CoStar Group.