Carter Cashes In on Tampa Luxury Tower
- Mar 06, 2020
Blaze Partners has purchased Nine15 Apartments, a 362-unit luxury community in downtown Tampa, Fla. Carter sold the 2017-completed property, with Walker & Dunlop assisting in the negotiations. Yardi Matrix data shows Carter began developing the Class A high-rise in 2015, financing the construction with a $70 million loan from PCCP LLC. In May, Carter sold another Tampa-area luxury community for a record price.
Situated at 915 N. Franklin St., the 23-story tower rises on a one-acre site two blocks from Tampa Riverwalk. The community consists of studio, one-, and two-bedroom floorplans averaging 848 square feet. Amenities include a rooftop pool, sky lounge, 3,500-square-foot fitness center and 9,000 square feet of ground-floor retail. Blaze intends to further invest in improvements at the property that was 89.5 percent occupied as of January, according to Yardi Matrix.
With its central location, Nine15 is surrounded by restaurants and shops, as well as cultural and entertainment venues. The property is within walking distance of the city’s central business district.
This acquisition marks Blaze’s first foray into the Tampa market, with the intention to further expand its Florida presence. The company also made multiple investments across Georgia, Texas and the Carolinas in recent months. Last March, the company purchased a 250-unit luxury community in Charlotte, N.C.