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KRI Properties Sells 68,000-SF Multifamily Community

Michaelson Group LLC purchased the 72-unit Coachman Club multifamily complex in Clearwater, FL from a joint venture of KRI Properties Inc. and an individual investor for $8.2 million, or approximately $114,000 per unit.

The 68,400-square-foot community consists of 72 two-bedroom units across nine buildings. Coachman Club, built in 1985, is located at 730 N Old Coachman Rd. in the North Clearwater Multifamily submarket. Community amenities include a fitness center, grill and a pool.

According to CoStar information, the asset was 92 percent occupied at the time of sale.

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