Frankforter Group bought a 448-unit multifamily community in Lutz, Fla., from Cortland for $58.5 million, Multi-Housing News reported, citing Yardi Matrix data.
The Livingston Apartments has a mix of one-, two- and three-bedroom apartments and is at 15420 Livingston Ave., 15 miles north of Tampa.
Frankforter intends to invest $2 million to enhance the asset.
