{"id":1004051766,"date":"2012-01-09T06:27:50","date_gmt":"2012-01-09T14:27:50","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=30181"},"modified":"2022-12-03T18:10:51","modified_gmt":"2022-12-04T02:10:51","slug":"partnership-buys-circle-at-crosstown-in-64-5m-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/partnership-buys-circle-at-crosstown-in-64-5m-deal\/","title":{"rendered":"Partnership Buys Circle at Crosstown in $64.5M Deal"},"content":{"rendered":"<p><em>By Georgiana Mihaila, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">The 300-unit Circle at Crosstown has recently traded hands, part of a $64.5 million portfolio that also included the 336-unit Circle at Bartram Park in Jacksonville. The two\u00a0assets built by Crescent Resources in 2009 are now the property of a partnership formed by Atlanta-based JMG Realty Inc. and Birmingham, Ala.-based HighPoint Holdings L.L.C. \u00a0According to the <em>Tampa Bay Business Journal<\/em>, HighPoint also owns the Tuscany Bay Apartments in Tampa.<\/p>\n<p style=\"text-align: justify\">The Circle at Crosstown complex, located at 1820 Crosstown Club Place in Brandon\u2014<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/01\/circle-at-crosstown.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-30182\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/01\/circle-at-crosstown.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/a>currently one of Tampa\u2019s strongest-performing submarkets\u2014commanded a sale price of $35.3 million, or $117,500 per unit. Its 300 units feature chef-inspired kitchens, screened patios\/balconies and generous walk-in closets and pantries, while the community offers detached, attached and direct-access garages; a resort-style pool with cabana; a clubhouse; and a fitness facility. The Class A multifamily property has a strong green component: Numerous large oaks have been saved on the site, and it features a LEED-certified clubhouse and is 100 percent smoke free.<\/p>\n<p style=\"text-align: justify\">The transaction was brokered by the Jacksonville and Tampa offices of Atlanta-based Apartment Realty Advisors, with its Central and North Florida-based sales team led by principal Kevin Judd, senior vice president Patrick Dufour\u00a0and vice president Matt Wilcox representing the seller. &#8220;Circle at Crosstown recently completed lease-up, providing this core-quality asset with additional upside potential to continue to increase effective rents on renewals,&#8221; commented Patrick Dufour. The purchase entity Crosstown Tampa Investors L.L.C. mortgaged the property to CW Capital L.L.C. for $24.3 million.<\/p>\n<p><em>Photo Credits: Circle at Crosstown Official Website<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 300-unit Circle at Crosstown has recently traded hands, part of a $64.5 million portfolio that also included the 336-unit Circle at Bartram Park in Jacksonville.<\/p>\n","protected":false},"author":39,"featured_media":1004505553,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1612],"tags":[],"class_list":["post-1004051766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-tampa"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Partnership Buys Circle at Crosstown in $64.5M Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/partnership-buys-circle-at-crosstown-in-64-5m-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Partnership Buys Circle at Crosstown in $64.5M Deal\" \/>\n<meta property=\"og:description\" content=\"The 300-unit Circle at Crosstown has recently traded hands, part of a $64.5 million portfolio that also included the 336-unit Circle at Bartram Park in Jacksonville.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/partnership-buys-circle-at-crosstown-in-64-5m-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-01-09T14:27:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-04T02:10:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/circle-at-crosstown.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Amalia Otet\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/partnership-buys-circle-at-crosstown-in-64-5m-deal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/partnership-buys-circle-at-crosstown-in-64-5m-deal\\\/\"},\"author\":{\"name\":\"Amalia Otet\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9f6a1043b1429cf8ff129c75614caa73\"},\"headline\":\"Partnership Buys Circle at Crosstown in $64.5M Deal\",\"datePublished\":\"2012-01-09T14:27:50+00:00\",\"dateModified\":\"2022-12-04T02:10:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/partnership-buys-circle-at-crosstown-in-64-5m-deal\\\/\"},\"wordCount\":269,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/partnership-buys-circle-at-crosstown-in-64-5m-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/circle-at-crosstown.jpg\",\"articleSection\":[\"News\",\"Tampa\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/partnership-buys-circle-at-crosstown-in-64-5m-deal\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/partnership-buys-circle-at-crosstown-in-64-5m-deal\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/partnership-buys-circle-at-crosstown-in-64-5m-deal\\\/\",\"name\":\"Partnership Buys Circle at Crosstown in $64.5M Deal - 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