Passco Cos. Acquires Multifamily Property In Lutz For $90.4M

The multifamily property located at 18065 Promenade Park Ln in Lutz has been sold for a total price of $90,400,000. The sale was completed on June 9, 2021. The property consists of 338 units, resulting in a price per unit of $267,456. The transaction was between Passco Cos., represented by William O. Passo and Larry Sullivan, and Altman Cos., represented by Joel Altman.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $90,400,000
• Units: 338
• Price per Unit (PPU): $267,456
• Date: June 9, 2021
• Address: 18065 Promenade Park Ln, Lutz

Passco Cos., led by William O. Passo and Larry Sullivan, acquired the property from Altman Cos., represented by Joel Altman. This transaction demonstrates the continued activity and demand in the multifamily market in Lutz.