ELRH Investments, based in Jupiter, has purchased the Preserve at Tampa Palms in New Tampa for $49.325 million. The 378 unit complex located at 17220 Heart of Palms Drive traded for $130,489 per apartment. The seller, New York-based Brookfield Property Group, paid $45 million or $119,045 per apartment in 2007. Since the recession, there have been more renters in the market, a situation which has driven up rents, and subsequently pricing, on multifamily properties.
