Tampa Community Changes Hands for $58M
- Jan 09, 2018
Nicole Investment Co. has acquired Havana Square, a newly built, 274-unit luxury apartment community in Tampa, for $58.1 million. HFF arranged the sale on behalf of the seller, Pollack Shores Real Estate Group LLC. The property traded free and clear of existing debt.
At 400 N. Rome Ave., Havana Square is situated in Tampa’s North Hyde Park neighborhood, approximately one mile west of the central business district. Completed in early 2017, the property contains a four-story, wrap-style building, comprising a mix of one-, two- and three-bedroom units averaging 804 square feet. The characteristics of the apartments include designer finishes, such as quartz or granite countertops, stainless steel appliances, spacious walk-in closets, in-unit washers and dryers, USB outlets, wood-plank flooring and private balconies.
Community amenities include:
- swimming pool
- outdoor kitchen
- bocce ball court
- fire pits
- grilling areas
- fitness studio
- club room with game tables
- six-story, secured-access parking garage
“Capitalizing on the recent momentum of the rapidly emerging North Hyde Park neighborhood, the seller recognized and met the need for upscale, sophisticated housing in the city’s urban core,” mentioned Matt Mitchell, senior managing director of HFF, in prepared remarks. “The community provides walkable access to the area’s bars, eateries, shops and other recreational amenities and appeals to millennials and young families that have moved into the neighborhood.”
The HFF investment sales team included Mitchell and director Zach Nolan. The firm has also secured a construction loan for Hanover River Oaks, a 370-unit luxury tower in Houston.
Image courtesy of Google street view