Carrollwood Area Apartment Complex Sells For $77 Million

By Jay Wittner May 10, 2021

The Lakeshore Club, an apartment complex near Tampa’s Carrollwood has just sold for $77 million. Lakeshore consists of 638 units on a 66 acre waterfront site. The property typically has an occupancy rate of 99% and the transaction comes to $121,000 per unit. The seller was Neil Sazant and the buyer was the Covenant Capital Group. Covenant Capital plans substantial upgrades to the complex and anticipates increases of at least $325 in the rental rates. The community is adjacent to Egypt Lake at 6900 Concord Dr.