Developer sells off Brandon apartments for $170K a door
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Oct 8, 2015

A suburban apartment community has been sold for a price that is toward the higher end of multifamily real estate in Tampa Bay.

Crescent Communities, based in Charlotte, North Carolina, sold Crescent Crosstown for $58.3 million in a transaction that closed Monday, according to Hillsborough County property records. The deal breaks down to $169,476 per unit.

The buyer was Atlanta-based Centennial Holding Company, which appears to have already rebranded the 344-unit community Century Crosstown. The property, at 9712 Bosque Creek Circle, is less than a mile from Topgolf Tampa.

Centennial owns two other suburban complexes in the Bay region. The first residents moved in to the community in summer 2013.

Crescent has been a prolific developer in Tampa. The company is under construction on Crescent Westshore, a new development near International Plaza, and last year sold Crescent Bayshore for more than $300,000 per apartment, a record-setting deal in downtown Tampa.

Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.