TAMPA, Fla. – June 27, 2022 – Berkadia announced today the sale of The Cove on the Bay, a 689-unit multifamily property located in Tampa, Florida. Senior Managing Director Jason Stanton and Senior Managing Director Matt Mitchell of Berkadia Tampa; Senior Managing Director Cole Whitaker, Managing Director David Etchison, Director Mary Beale and Associate Director Lauren Gassie of Berkadia Orlando; Director Greg Rainey of Berkadia Jacksonville, completed the sale on behalf of the seller, New York-based Gamma Real Estate. The buyer was Dallas-based LURIN, and the deal closed on June 21.
“The Cove represents a unique opportunity to acquire a value-add community with an irreplaceable waterfront location in South Tampa,” said Stanton. “The new owner has plans to renovate units and enhance the property’s amenity package.”
Located at 4003 S West Shore Blvd., The Cove on the Bay offers studio, one- and two-bedroom floor plans with walk in closets, private patio and balconies, and panoramic bay and canal views. Community amenities include three swimming pools, fishing pier, kayak launch and boat parking. Residents are afforded convenient access to various restaurants, shopping and recreation areas as well as Tampa International Airport.