Mixed-use Westchase development fetches $46 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jan 4, 2016

An apartment-and-retail development in Westchase has a new owner.

Altis at Highland Park sold to a corporate entity tied to Utah-based Cottonwood Residential on Dec. 21, according to a Hillsborough County deed filed Dec. 29.

Cottonwood paid $46 million for the property, which includes 239 apartments and 5,000 square feet of retail space. Kahwa Coffee is among the building's retail tenants.

The deal breaks down to $192,468 per apartment.

The seller was Boca Raton-based Altman Cos., which bought 10 acres for the property in late 2013. The building wrapped up construction in 2015.

In 2015, Altman planned a mixed-use building on Grand Central Avenue, near Oxford Exchange, but that proposal was blocked by Tampa City Council.

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