Exclusive: Cantor Pays $100M for Tampa Asset
Freddie Mac provided funding for the acquisition.
Cantor Fitzgerald has paid $100.4 million for The Residences at Westshore Marina, a 351-unit community in Tampa, Fla., according to Yardi Matrix information. Starlight Investments sold the asset for about $286,154 per unit.
The buyer took out a $78.7 million Freddie Mac loan originated by Newmark, the same data provider shows. The property previously traded for $100 million in February 2020, when Bainbridge Cos. sold it to Starlight.
Earlier this year, Cantor Fitzgerald acquired a two-property portfolio from the same company. The firm paid $107.8 million for the 539-unit collection in Orlando, Fla.
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Located at 5350 Bridge St. on 12 acres, the six-building community is close to Highway 92 and less than 8 miles from downtown Tampa. The city’s international airport is 7 miles away.
Completed in 2019, the five-story property comprises one-, two- and three-bedroom floorplans ranging between 752 and 1,432 square feet. Select layouts also have private balconies or patios.
Common-area amenities include a fitness center, clubhouse, playground and business center. Additionally, The Residences at Westshore Marina also has a swimming pool with sun decks, bar area, grills and picnic space, along with a coffee bar and private work spaces.
Tampa multifamily sales drop year-over-year
The Tampa-St. Petersburg-Clearwater metro’s multifamily transaction volume year-to-date as of September clocked in at $1.3 billion from the 35 communities trading, according to Yardi Matrix information. This marks a slight decrease from the $1.6 billion registered in 2024 during the same time frame when 38 assets changed hands. The average price per unit also dropped year-over-year, from $215,034 to $177,389.
Earlier in July, Zilber Residential Group sold Vida Lakewood Ranch, a 304-unit community in Bradenton, Fla., for $92.1 million. The undisclosed investor acquired the asset for an average per unit price of $302,961.
