California's Focus Group buys Hidden River Grande

BUYER: Focus JCR Tampa 212 LLC (manager: Steven Grady), La Jolla, Calif.
SELLER: Hidden River Grande LLC
PROPERTY: 8024 Hidden River Drive, Tampa
PRICE: $8.3 million
PREVIOUS PRICE: $4.08 million, December 2010
LAW FIRM ON DEED: Levinson Gritter & DiGiore LLP, Fort Lauderdale

PLANS, DESCRIPTION:
La Jolla, Calif.-based The Focus Group purchased the 212-unit waterfront Hidden River Grande Apartments for $8.3 million.

The price equated to $39,151 per unit.

The 30-building apartment complex occupies 12.92 acres south of the Hillsborough River. Built in 1973, Hidden River Grande received a $2.1 million renovation in 2012.

John Selby, Sean Williams, Shelton Granade, Luke Wickham and Justin Basquill of CBRE Capital Markets represented the seller, NR Investments.

The purchase entity, Focus JCR Tampa 212 LLC, mortgaged the property to Walker & Dunlop LLC for $7.39 million.