West Coast Investor Opts for Tampa

A San Diego-based real estate company has acquired a waterfront rental community in the northeast portion of Tampa.
Hidden River Grande Apartments in Tampa

Hidden River Grande

A San Diego-based real estate company has acquired a waterfront rental community in the northeast portion of Tampa. The Focus Group picked up the 212-unit Hidden River Grande Apartments waterfront rental community for $8.3 million.

Originally built in 1973, Hidden River Grande is located at 8024 Hidden River Drive on the Hillsborough River, just minutes from Busch Gardens amusement park, the University of South Florida and downtown Tampa. It benefits from immediate access to Interstates 275, 75 and 4, as well as the Selmon Crosstown Expressway and U.S. Route 301. The complex features a host of amenities including a swimming pool, a fitness center, a clubhouse, a business center, a basketball court and a lighted tennis court. The property underwent a $2.1 million series of renovations in 2012.

CBRE Group Inc. marketed the property and arranged the deal on behalf of the seller. The team representing NR Investments was led by Executive Vice President Shelton Granade, Senior Vice President Luke Wickham and Assistant Justin Basquill of CBRE Capital Markets, as well as Senior Vice Presidents John Selby and Sean Williams with CBRE Tampa.

Photo credits: CBRE