The Terraces at Town Center apartments at 5140 Gate Parkway N. sold Oct. 22 for $58.4 million.
Through MREF II Terraces LLC, Momentum Real Estate Partners of Miami sold the apartments to StoneRiverProperty Management of Birmingham, Alabama.
StoneRiver bought the property through SCR Terraces II.
Built in 2013, the three-story, 240-unit community sits on about 12 acres. The per-unit sales price is $243,333.
Momentum bought the apartments in January 2016 for $39 million.
The one- and two-bedroom apartments are 619 to 1,203 square feet with rents of $1,525 to $1,810 a month, according to realtor.com.
Amenities include patio and balcony upgrades, an outdoor patio with fireplace, dog park, shuffleboard, social lounge that includes a coffee bar with Wi-Fi, fitness center and business center, resort-style pool and washer and dryer in every unit.
The property has an assessed value of $42.46 million.