Capital Ocean aquires $80m Palm Harbor apartment complex

Capital Ocean aquires $80m Palm Harbor apartment complex

Published at: 2019-07-04 16:59 | Author: CIJ USA
IMT Boot Ranch, a 432 unit apartment complex in Palm Harbor, Fla. has been acquired by a joint venture between Capital Ocean and Providence Real Estate. The duo paid $80 million, or just over $185,185 per unit, for the property located at 1350 Seagate Drive. Built in 1996 on a 31-acre site, communal amenities include two swimming pools, a tennis court, a fenced dog park and boat parking. The deal was completed with a $55.2 million, seven year Freddie Mac acquisition loan arranged on behalf of the buyers by Walker & Dunlop. Purchased from IMT Capital the asset will be renamed The Boot Ranch.

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