Updated Oct 12, 2026
Michaels Organization Acquires Park Springs Multifamily Property In Plant City For $31.6M
300 Park Springs Cir, Plant City, FL 33566
$31,600,000
Units
204
Asset Type
MultiFamily
Closing
May 28, 2023
About this deal
AI
Plant City's Park Springs apartments have been sold for $31.6 million to an LLC connected to The Michaels Organization. The income-restricted property consists of 204 units in 26 buildings, offering two- and three-bedroom units with income qualifications below $30,720 for two individuals.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,600,000
- Units: 204
- Price Per Unit: $154,902
The buyer in this transaction is Michaels Organization, represented by John J. O'Donnell.
The multifamily sale at 300 Park Springs Cir, Plant City, FL 33566 in Miami, Florida sold for $31.6M in 2023. Reported inventory is 204 units across 204 units. Named participants on the 300 Park Springs Cir, Plant City, FL 33566 sale are John J. O’Donnell. This page is the Miami, Florida file for the 300 Park Springs Cir, Plant City, FL 33566 multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Miami sit in the Market section below. Filter that Miami multifamily set by closing date to see what else sold near 300 Park Springs Cir, Plant City, FL 33566 around 2023. Published consideration for 300 Park Springs Cir, Plant City, FL 33566 is $31.6M, dated 2023. Cite this Michaels Organization Acquires Park Springs Multifamily Property In Plant City For $31.6M sale when underwriting similar multifamily product around Miami, Florida.
On the Map
$31,600,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93