Berkadia Completes Sale of 292-Unit Multifamily Property in Tampa, Florida
TAMPA, FL – August 18, 2023 – Berkadia Institutional Solutions announced today the sale of The Livano Uptown, a 292-unit, garden-style multifamily property located in the Tampa suburb of Thonotosassa, Florida that has since been rebranded as Tessa Springs. Senior Managing Director Matt Mitchell and Associate Bailey Smith of Berkadia Tampa led the sale on behalf of the seller, Alabama-based LIV Development. The buyer was The Praedium Group, and the deal closed on August 14.
“LIV Development was ahead of the curve by delivering a best-in-class product in an undersupplied submarket surrounded by major economic drivers and some of Tampa’s largest employers,” said Mitchell.
Located at 11810 Walker Road, The Livano Uptown features one-, two-, and three-bedroom floor plans with full-size in-unit washers and dryers, granite countertops, and private balconies in select units. Community amenities include a designer clubhouse, a resort-style pool with lounge seating, private workspaces with conference rooms, a party barn, a state-of-the-art 24-hour fitness center with a yoga/spin room, a pet center, and a 24-hour onsite community market. Residents are afforded convenient access to the University of South Florida, Busch Gardens Tampa Bay, and the Innovation District, which is home to several high-tech and healthcare-related employers.