A 40-Year-Old Apartment Complex in Tampa Trades for $96.5 Million | The Real Deal 

Tampa Community Changes Hands for $97M | Multi-Housing News 

TAMPA, Fla. – June 15, 2018 – Berkadia today announced the sale of The Cove Apartment Homes, a multifamily garden-style property in Tampa, Florida. Managing Director Jason Stanton of Berkadia’s Tampa Office, Senior Managing Director Cole Whitaker and Director Mary Beale of the Orlando office and Director Greg Rainey of the Jacksonville office worked to complete the sale on behalf of the seller, Chicago-based Laramar Group. The buyer was Gamma Real Estate, based in New York, and the deal closed on May 23.

“The Cove represented a unique chance to acquire a value-add opportunity in an irreplaceable South Tampa location. Through Berkadia’s national platform, we were able to generate a tremendous amount of interest, which led to over 60 tours of the property,” said Stanton.

Located at 4003 S. Westshore Blvd., the 689-unit property offers studio, one- and two-bedroom floorplans with in-unit washers and dryers, patios and balconies. Community amenities include a game room, a tennis court, three pools and boat parking. The property is located directly on the bay and is fewer than 10 miles from downtown Tampa Bay and Tampa International Airport. The Cove also affords convenient access to Interstate Routes 4 and 75.