Marcus & Millichap Arranges Sale of Luxury Tampa Asset
- Aug 25, 2016
Tampa—Marcus & Millichap has facilitated the $10.3 million sale of The Mirasol, a 58-unit luxury apartment community in Tampa. Frank Carriera, first vice president of investments in the company’s Tampa office—along with vice presidents Michael Donaldson, Nicholas Meoli and Michael Regan—represented the seller and also procured the buyer.
Located at 84 Davis Blvd., close to downtown Tampa, the Mediterranean Revival-style Mirasol was built in 1925 as a luxury hotel, then repositioned as apartments almost 40 years later. It has a number of unique attributes, such as original, Mediterranean-influenced finishes and Gothic-inspired French doors and windows. The asset incorporates a seven-story building with two complementary three-story wings, two detached one-story buildings, and a 15-slip marina.
The landmark is “well positioned for long-term stability and growth, as the Davis Islands neighborhood—which has effectively been built out since the 1950s—has the distinction of being one of the area’s most desirable places to live and having the highest occupancy,” said Carriera in a statement.
Image via The Mirasol Facebook page