Sarasota-Based Insula Companies Completes Sale of
Tampa Apartment Community
Park East Apartments Sells for $17.5 Million
SARASOTA, Fla. – October 18, 2016 – Insula Companies – a Sarasota-based firm specializing in apartment community Acquisition and revitalization on behalf of investors – sold Park East Apartments in Tampa, Florida, to a private investor for $17.5 Million on September 1, 2016. Insula Companies has completed the sale of 5 revitalized properties in the past year, resulting in significant high-yield returns for its equity investors.
Insula Companies purchased the 192-unit property from a private seller for $12.4 Million in 2014. The firm made several enhancements to common area amenities and the community’s curb appeal, which served to boost value and improve appearance. “With Park East, we identified an exceptional opportunity in a highly desirable area,” said Fred Cochran, President of Insula Companies. “After bringing our team on-site and implementing effective management services and widespread improvements, we were ultimately able to achieve value and returns for our investors.”
With properties in Tampa Bay, Orlando, Lakeland and throughout Southwest Florida, Insula Companies pursues only the communities considered to have the best future value for investors. An apartment community must be a 15- to 40-year-old class B or C property with a minimum of 150 units, present value-added potential through cosmetic or substantial rehabilitation work, and have market-related and/or management-induced challenges to qualify for Acquisition.
Visit www.insulacompanies.com for more information.
About Insula Companies
Since 2009, Insula Companies have recognized the potential for apartment community Acquisition and revitalization and provided investors with a portfolio of more than 5,000 units and $450 Million in assets in Florida-based multi-housing complexes. With regional offices serving multiple major Florida markets, the firm has developed an unparalleled understanding of the communities acquired and their future promise for enhancement and return. For more information, visit InsulaCompanies.com or call 941.960.7000.
Grapevine Communications provides full-service advertising, marketing and public relations services to clients nationwide. The firm is the most award-winning advertising agency in Sarasota, Florida, and the surrounding areas. Recent accolades include the 2016, 2015 & 2014 Best Marketing/PR Agency by SRQ Magazine readers; the 2016 “Top 25 Public Relations Firms of Southwest Florida” by Tampa Bay Business Journal; the 2015 Greater Good Philanthropy Award – Small Business by Biz(941) Magazine; the 2014 Small Business of the Year by the Manatee Chamber of Commerce; and the 2010 Small Business of the Year by the Sarasota Chamber of Commerce. For more information on Grapevine Communications, contact Shelby Isaacson (Shelby@grapeinc.com) at 941-351-0024 or visit the website at www.grapeinc.com