February 9, 2021
The Multifamily Firm combs through the latest multifamily transactions, sales, and acquisitions in the Tampa region to aggregate a list of the most recent transactions in the area. In the past quarter of 2020, there have been several major multifamily deals, including one transaction over $100M and six over the $50M mark.
Many of the multifamily transactions on the current list were built before 1990 with a few exceptions built in the 70s – 80s. One of the sales involved a multifamily complex that was built less than two years ago in 2019.
If you have recent transactions you would like to add to our comprehensive list, contact us directly.
Top Multifamily Transactions in Tampa Area
1) Trellis at the Lakes (St. Petersburg, FL)
Address: 11401 Dr Martin Luther King Jr St
Units: 688
Price: $114,000,000
Price / Unit: $165,698
Buyer: Stoneweg US
Seller: ESG Kullen
Seller Rep: Meland Budwick
Year Built: 1981
Community Amenities: Fitness center, business center, clubhouse, tennis and basketball court, six laundry rooms, and two swimming pools
Active Loans: $67.5M CMBS loan originated by Newmark in 2019
2) Tapestry Cypress Creek (Land O’Lakes, FL)
Address: 2300 Tapestry Park Drive
Units: 341
Price: $78,500,000
Price / Unit: $230,205
Buyer: Passco Cos.
Seller: Arlington Properties and Brightwork Real Estate
Year Built: 2019
Community Amenities: Swimming pool, fitness center, business center, and club room
Active Loans: $41M ServisFirst Bank loan originated in 2017
3) Veranda at Westchase (Tampa, FL)
Address: 12401 W Hillsborough Ave
Units: 390
Price: $70,500,000
Price / Unit: $180,769
Buyer: Bridge Investment Group
Seller: Forum Real Estate Group
Year Built: 1999
Community Amenities: Two swimming pools, tennis court, fitness center, and spa
4) Bainbridge Ybor City (Tampa, FL)
Address: 1512 E 12th Ave
Units: Not Listed
Price: $58,000,000
Price / Unit: Not Listed
Buyer: GM Capital
Seller: Bainbridge Cos. (Original Developer)
Year Built: 2017
Community Amenities: Fitness center, business center, clubhouse, swimming pool, and landscaped courtyard with fountains
Active Loans: Not Listed
5) The Standard at 2690 (Clearwater, FL)
Address: 2690 Drew St
Units: 456
Price: $57,600,000
Price / Unit: $126,316
Buyer: Infinity BH
Seller: BH Equities
Year Built: 1973
Community Amenities: Swimming pool, fitness studio, business center, tennis court, and three laundry rooms
Active Loans: $40.6M Fannie Mae loan originated in 2021
6) Woodland Key (Clearwater, FL)
Address: 2770 Roosevelt Blvd
Units: 416
Price: $55,800,000
Price / Unit: $134,134
Buyer: Ashcroft Capital
Seller: Private Investor
Year Built: 1974
Community Amenities: Gym, two swimming pools, two laundry facilities, and dog park
7) Brandywine Apartments (St Petersburg, FL)
Address: 1699 68th St N
Units: 477
Price: $55,000,000
Price / Unit: $115,304
Buyer: Covenant Capital Group
Seller: GMC Properties
Year Built: 1972
Community Amenities: Business center, swimming pool, clubhouse, fitness center, and 1,000 parking spaces
8) Ashford on the Lake (Palm Harbor, FL)
Address: 3975 Country Place
Units: 292
Price: $47,000,000
Price / Unit: $160,959
Buyer: TruAmerica Multifamily
Seller: RADCO Cos.
Year Built: 1985
Community Amenities: Playground, sundeck, picnic areas with grills, volleyball court, and swimming pool
Active Loans: $28.6M CMBS loan originated in 2018
9) Palm Avenue Apartments (Tampa, FL)
Address: 10610 N 30th St
Units: 369
Price: $43,700,000
Price / Unit: $118,428
Buyer: Coltown Properties Inc
Seller: TLR Group
Year Built: 1975
Community Amenities: Two swimming pools, a playground, fitness center, and community clubhouse
Active Loans: $31.9M Fannie Mae loan
10) City Park Clearwater (Clearwater, FL)
Address:101 S. Old Coachman Road
Units: 228
Price: $43,500,000
Price / Unit: $190,789
Buyer: Greystar
Seller: RADCO Cos.
Year Built: 1990
Community Amenities: Swimming pool, fitness center, clubhouse, tennis court, spa, and media room
11) Viera Bayside (St. Petersburg, FL)
Address: 110th Ave N
Units: 208
Price: $30,800,000
Price / Unit: $148,077
Buyer: Bridge Investment Group
Seller: Forum Real Estate Group
Year Built: 1986
Community Amenities: Renovated clubhouse, gym, and business center
12) Turtle Creek (Lutz, FL)
Address: 14620 Turtle Creek
Units: 232
Price: $30,600,000
Price / Unit: $131,897
Buyer: American Residential Investment Management
Seller: Praxis Capital
Year Built: 1985
Community Amenities: Two swimming pools, fitness center, and laundry facilities
13) Lois Landing (Tampa, FL)
Address: 215 S Lois Ave
Units: 56
Price: $10,000,000
Price / Unit: $165,698
Buyer: Private Investor
Seller: Private Investor
Year Built: Not Listed
Community Amenities: Resort-style pool, hot tub, cabanas with fire pit, and a fitness center