Places This Week: MetLife buys mobile home park for $53.7M
A weekly roundup of local real estate deals.
MetLife acquires mobile home park
An LLC connected to the global investment arm of New Jersey-based MetLife Inc. (NYSE: MET), one of the largest life insurance companies in the world, purchased a Largo mobile home community for nearly $53.7 million.
The acquired Ranchero Village community at 7100 Ulmerton Road is an age-restricted mobile home park with over 900 homes. Its amenities include tennis and shuffleboard courts.
MetLife representatives did not respond to requests for comment.
The buyer took out a $45 million loan from Northwestern Mutual Life Insurance Company for the purchase.
Tierra Verde estate sells for over $11 million
The owners of a waterfront estate in the exclusive Tierra Verde Westshore community have fetched a $11.75 million sale.
The sold 9,463-square-foot home at 1523 Oceanview Drive was listed at the end of October by Smith and Associates agent Liz Heinkel. It sold in 29 days.
The estate sits on an acre of land and has six bedrooms, each complete with bathrooms and balconies overlooking the Gulf of Mexico.
The home, built in 2009 by Windstar Homes, boasts 25-foot-high ceilings with wood beams, porcelain inlaid tile and black walnut wood flooring throughout, as well as custom Alder wood ceiling inlays and cabinetry, according to the listing.
Inside, the house also features a billiard room with a copper inlay ceiling and a movie theater room, which can seat 12.
Outside, there is a negative edge infinity saltwater pool and spa, a full bar and an outdoor kitchen with a pizza oven.
Additionally, there’s a boat dock and lift, a kayak launch area, a kids’ playground and a putting green.
The property last sold in 2007 for over $2.5 million, prior to the completion of the home.
Safety Harbor retail strip with seafood market sells
Roundlake Commercial LLC has sold a shopping strip at 305 Main St. in Safety Harbor for $3.3 million.
The buying LLC is connected to Mark Mitchell of Tampa.
The retail strip houses The Tides Seafood Market and Provisions and the Sips Wine Bar, among other tenants.
The buyer took out a $1.75 million loan from Valley National Bank.
Clearwater hotel sells for $8 million
The Terrace Garden Inn hotel in Clearwater has sold for $8 million.
HS Clearwater LLC sold the hotel at 21252 U.S. Highway 19 N. to the New Jersey-based Aanrya Hotel Group LLC entity.
The hotel, built in 1972, includes a pool, and tennis and shuffleboard courts.
The buyer took out a $5.6 million loan.
Car wash takeover
Car wash company ModWash, which has existing locations in St. Petersburg and Clearwater, has scooped up a Dunedin car wash site.
James Fraseur Car Wash Inc. sold the business at 1994 Main St. to ModWash LLC, for roughly $1.4 million.
The 686-square-foot local car wash station was built in 1990.