RPH MULTIFAMILY GROUP SELLS CLASS-A COMMUNITY FOR RECORD SETTING PRICE PER UNIT
TAMPA, Fla. June 4, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Adagio at Westshore Palms, a 47-unit apartment property located in Tampa, Florida, according to David G. Bradley, Regional Manager of the firm’s Tampa office. The asset sold for $11,100,000.
Ned Roberts, CCIM, Adam Podbelski, and Jason Hague, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by the RPH Multifamily Group.
“This sale represents the highest price per unit paid a for a multifamily community under 100 units in Hillsborough County since the on-set of COVID-19, which equates to more than $236,000 per unit,” said Ned Roberts, CCIM. “Greater Tampa Bay is one of the most sought-after markets in America, and this acquisition by a new-to-market California buyer is further proof of that,” Roberts added.
Adagio at Westshore Palms is located at 406 N Hubert Ave in Tampa, Florida seconds from Interstate 275 Entrance & Exit Ramps and Primary Artery, Kennedy Boulevard. The Class-A apartment community features: luxury interior finishes including granite countertops, under-mount sinks, stainless steel appliances, front-loading washers/dryers and hardwood floors, as well as a competitive amenity package that includes a fitness center, business center, pet park and covered parking.
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