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Tuesday, 11 June 2019

Related Group Buys 176-Unit Apartment Property in Tampa, Fla.

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Related Group has purchased the 176-unit Bay Oaks apartment complex in South Tampa, Fla., for $26.25 million, or $149,148/unit.

The property, at 3105 Bay Oaks Court, was sold by Carter-Haston of Nashville, Tenn., in a deal brokered by Cushman & Wakefield, which also arranged acquisition financing from Barings Multifamily Capital. Terms of the financing were not disclosed.

Bay Oaks is a garden-style property with a mix of one- and two-bedroom units that feature wood-style flooring and private balconies or patios. It was developed in 1974 on a 4.65-acre site with waterfront views of Hillsborough Bay. It is 97.2 percent leased. Amenities include a fitness center, swimming pool and clubhouse.

The property is a short drive from downtown Tampa, as well as Tampa International Airport.

Related is a Miami residential development and investment firm. It was launched in 1979 by Jorge Perez and has built and managed more than 90,000 condominium and apartment units.

Comments? E-mail Jim Boyle, or call him at (267) 247-0114.



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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Tampa
  • States: Florida
  • Sector: Multifamily
  • Subject: Property Acquisitions (ACQ)
  • Valuation: Between $25 million and $50 million
  • Private: No
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Data Digest

 

CMBS DELINQUENCY VOLUME

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CMBS SPECIAL SERVICING VOLUME

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Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

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CMBS 2.0 Spreads

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Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

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