Eagle Property Capital and Promecap purchased The Boot Ranch Apartments, a 432-unit community in Palm Harbor, Fla., through their EPC Promecap Multifamily Partners V investment vehicle, according to various media outlets. Providence Real Estate sold the property for $80.6 million.
Berkadia originated a seven-year, fixed-rate Fannie Mae acquisition loan.
Completed in 1996, the 16 three-story buildings feature one-, two-, three- and four-bedroom floorplans ranging between 743 and 1,456 square feet. Community amenities include a fitness center, clubhouse, business center, dog park and two swimming pools.
Sitting on 31 acres at 1350 Seagate Drive, the community is 20 miles northwest of downtown Tampa. East Lake Woodlands shopping mall and The Shoppes of Boot Ranch business center are within a 2-mile radius.
