Business

Cambridge Apartments in Gulfport sold for $12.4 million

Cambridge Apartments at 10900 East Taylor Road in Gulfport has a new owner who paid $12.4 million for the 201 units.

Andrew Agee, senior advisor at Sperry Van Ness International's multi-family group, brokered the sale of the apartment complex near Interstate 10 off Lorraine Road.

SVN represented seller RealSource from Salt Lake City and the buyer, an unnamed private real estate investor from the Northeast. The price was $61,692 per unit.

Built in 2004, the apartment complex has 11 mid-rise residential buildings, with an average unit size of 1,257 square feet. Among the amenities are a resort-style swimming pool, covered grilling and picnic areas, a business center with free Wi-Fi access, sand volleyball, self-storage garages and onsite car care service.

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