Temple Terrace apartment community sells for $43.2 million.

The Tampa Bay area is popular with investors in multi-family housing.
Published March 25

TEMPLE TERRACE — Allister Place, a 384-unit apartment community with lake views in Temple Terrace, has sold for $43.2 million.

Built in 1986 at 4939 E Busch Blvd., Allister Place is close to the University of South Florida and Busch Gardens. Amenities include poolside cabanas, a business center and a 24-hour fitness center.

Recently ranked by PwC and the Urban Land Institute as one of the nation's top 10 places to invest in real estate, the Tampa Bay area has become especially popular with investors in multi-family housing. ''The region's economy has consistently grown over the past two years, and still continues to flourish as the area has added about 30,000 jobs to the market,'' said Mitch Sinberg of Berkadia, which arranged the sale and financing of Allister Place to a joint venture between the real estate investment firms GMF Capital of New York City and the Michaelson Group of Jacksonville. The seller was Aspen Square.

Contact Susan Taylor Martin at smartin@tampabay.com or (727) 893-8642. Follow @susanskate.

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