Grande Court North Port sells for $11 Million
Potential redevelopment for the LIHTC property
North Port, FL, September 10, 2018 –
Colliers International South Florida has announced the sale of Grande Court North Port, a fully-leased 128-unit apartment complex located just off of Tamiami Trail in North Port, FL. Colliers’ Senior Vice President Kevin Morris represented both the buyer, Grande Court North Port, Inc, and the seller, Courtelis Company, in the sale. The buyer was a partnership between Southport Financial and Raymond James Tax Credit Funds, with the Freddie Mac loan coordinated by JLL.
The 5-building, 115,303 SF GBA Multi-Family apartment complex located at 5203 Greenwood Ave sold on August 15, 2018 for $11,000,000. The complex is a LIHTC (low income housing tax credit) property as well. The clean, well-run property, has a potential redevelopment opportunity down the line.