Now, those questions have been answered.
According to the county, the property is supposed to become multi-family housing.
The apartment company paid $5.84 million more than the original purchaser, GFY Trustee Services, which bought the property in December for $5.5 million. Just a little over three months later, GFY doubled its money with their sale to Richman Hillsborough.
Richman is known for building luxury apartments, but its website says it has 96 “affordable” units in South Florida for people making 26%-60% of area median income (AMI). Richman has no affordable properties in Tampa, but has opened 1,131 units its its four “signature” local developments.
Though GFY purchased the property, last month a partner at the company told CL that they represent a client, but did not disclose who.
On Feb. 15, the deed was signed, and later uploaded to the Hillsborough County Clerk of Court's website.
On background, a county official said it looked as if GFY was able to purchase the property for a low price and make a major profit in a short amount of time.
In December, the property was sold to the apartment company by Betty Henn, owner of the Fun-Lan company.
According to Hillsborough County Property Appraiser records from the early-'90s, Henn purchased the property for $475,000.
UPDATED 02/28/22 9:56 p.m. updated with figures on Richman's "affordable" and luxury units in Florida.