loader loader
Feb, 16

Q4 Market Report: Tampa Multifamily Sales

Tampa Multifamily Sales Activity in Q4 2021

According to the latest data from CoStar, Tampa’s multifamily sector has never been more appealing to prospective investors.  The frequency of large deals has accelerated over the past year, with nine deals valued at over $100 million in 2021 – more than three times the average of the previous five years. 

Pricing has been increasing as well as can be seen by the Q4 sale of Channel Club Apartments for $136 million in November, the second highest sale price of the year overall in the region.

While private buyers continue to represent the largest share, we can see a shift toward institutional capital and private equity in the buying sector as well. Throughout 2021 these two components accounted for more than 40% of buyers, while on the opposing seller’s side,  private entities continued to dominate the landscape, accounting for nearly three-fourths of all sellers. 

You can view our commercial properties in Tampa and elsewhere in Central Florida to see what’s available for lease and for sale at the moment. 

Q4 Market Report: Multifamily Sales in Tampa

 

Significant Multifamily Sales in Tampa Q4

Arabelle Riverwalk – 202 S Parker St

Rating: 4* 

Year Built: 2019

Units: 400

Vacancy: 1%

Sale Date: 12/28/2021

Price: $225,000,000

Price/Unit: $562,500

Price/SF: $421

 

Lansbrook Village – 3751 Pine Ridge Blvd

Rating: 4* 

Year Built: 2004

Units: 733

Vacancy: 6.5%

Sale Date: 7/7/2021

Price: $162,259,784

Price/Unit: $221,363

Price/SF: $178

 

Anchor Riverwalk – 109 W Fortune St

Rating: 5* 

Year Built: 2018

Units: 394

Vacancy: 2.8%

Sale Date: 8/13/2021

Price: $157,000,000

Price/Unit: $398,477

Price/SF: $225

 

Camden Central – 855 Central Ave

Rating: 4* 

Year Built: 2019

Units: 368

Vacancy: 1.4%

Sale Date: 8/24/2021

Price: $149,653,300

Price/Unit: $406,666

Price/SF: $199

 

Bowery Bayside – 6301 S Westshore Blvd

Rating: 3* 

Year Built: 1987

Units: 608

Vacancy: 5.9%

Sale Date: 11/1/2021

Price: $142.000,000

Price/Unit: $233,552

Price/SF: $228

 

Channel Club Apartments – 1115 E Twiggs St

Rating: 4* 

Year Built: 2018

Units: 324

Vacancy: 2.8%

Sale Date: 11/17/2021

Price: $136,000,000

Price/Unit: $419,753

Price/SF: $405

 

Bell Channelside – 1120 E Twiggs St

Rating: 4* 

Year Built: 2008

Units: 424

Vacancy: 3.3%

Sale Date: 9/21/2021

Price: $127, 934, 103

Price/Unit: $301,731

Price/SF: $249

 

Elements on Third – 3201 3rd Ave N

Rating: 4* 

Year Built: 1962

Units: 425

Vacancy: 2.3%

Sale Date: 10/21/2021

Price: $125,000,000

Price/Unit: $294,117

Price/SF: $341

 

Arabelle Clearwater – 1320 Sands Terrace E

Rating: 4* 

Year Built: 2021

Units: 314

Vacancy: 36%

Sale Date: 12/16/2021

Price: $116,250.000

Price/Unit: $370,222

Price/SF: $969

 

Avana Westchase – 12201 Lexington Park Dr

Rating: 4* 

Year Built: 2002

Units: 400

Vacancy: 5.8%

Sale Date: 11/8/2021

Price: $108, 855,000

Price/Unit: $272,137

Price/SF: $228

 

Take a look at our featured Tampa multi-family properties for sale, as well as a variety of other Tampa commercial real estate properties that are currently available. You can also contact the Bounat team to start your own Central Florida property search.