Blog Archives

Multifamily REIT Buys Southeast Tampa Apartment Complex for $28.7 Million

Multifamily real estate investment trust Resource Apartment REIT III purchased The Park at Kensington, a 204-unit apartment complex in Riverview, Florida, for $ 28.7 million or $ 140,686 per unit. The Philadelphia-based firm acquired the apartment complex from Blue Magma Residential LLC, which originally bought the community in 2012, according to CoStar data. Located at […]

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Philadelphia Multifamily Investor Enters Tampa Market with 208-Unit Apt. Buy

Balfour Beatty Communities, a subsidiary of Balfour Beatty Investments, made its first ever purchase in the Tampa market, expanding its Florida presence. The multifamily investor partnered with Houston-based private investor and fund manager ApexOne Investment Partners to acquire the 208-unit Providence at Zephyr Ridge from the property’s developer, Lake Mary, FL-based Providence One Partners LLC, […]

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Multifamily Investors Are Getting Used to ‘Normal’

U.S. housing construction remains low, and still trails population growth, said John Affleck, CoStar’s director of analytics. “Ongoing deliveries of highly-amenitized, high-rent product will limit rent growth at the high end of the market, but older and more suburban product will continue to outperform.” It may sound like bad news for the apartment sector: rent […]

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Sarasota Multifamily Construction Boom Continues

Pictured: Bold Lofts in Sarasota, FL. Construction on the 97-unit apartment complex is slated to be completed this August. As with much of Florida, Sarasota was late to fully em Tampa/St. Petersburg Commercial Real Estate News From CoStar Group

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NorthEnd Equities Purchases 400-Unit Multifamily Community in Tampa

NorthEnd Equities LLC, a commercial real estate firm based out of New York City, acquired the 400-unit Hanley Place apartments at 7315 W. Hanna Ave. in Tampa, FL from Axonic Properties for $ 42.15 million, or about $ 105,000 per unit. “Hanley Place is a stabilized asset with high historical occupancy,” says Michael Regan, senior […]

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