Blackstone Group has purchased the Sabal Palm at Carrollwood in the Tampa’s Carrollwood area for $51.5 million, or $119,200 per unit. Located at 3602 Carrollwood Place Circle, the complex has 432 units and was built in 1995. The seller, The Praedium Group bought the property in 2011 for $39 million ($90,200 per unit), which is 32 percent less than its price today. Blackstone’s affiliate, BRE Piper MF Carrollwood FL LLC will take over the original $27 million mortgage Praedium has with Wells Fargo, and after consolidation of fees and increased principle, will now carry a $41.9 million note on the property.
