Tampa apartments sell at $160K per unit

TAMPA -- An Atlanta real estate company acquired a 14-year-old apartment complex at nearly $160,000 per unit.

Atlanta-based Pollack Shores, through its subsidiary PS Lexington Park Owner LLC, bought Lexington Park at Westchase at 12201 Lexington Park Drive for $64.5 million, in a deal that closed June 4. That was a big turnaround for Miami billionaire Sonny Kahn, who bought the apartment complex for $42.5 million, or $105,000 per unit, in 2010.

The complex is just off Linebaugh Avenue and Countryway Boulevard in northwest Hillsborough County, in an area where homes typically begin in the $250,000 range.