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| The 200-unit Beach Club is a compelling value-add opportunity for Beacon near Westshore Business District in Tampa, FL |
MIAMI, FL
and TAMPA, FL – Commercial
real estate firm Beacon Real Estate Group closed another significant
multifamily acquisition with its purchase of the Beach Club
apartment community in northwest Tampa, Florida.
Since the
beginning of August, Miami-based Beacon has closed or put under
contract over $250 million of multifamily investments in the
Southeastern U.S.
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| Community amenities include a swimming pool, outdoor kitchen, fitness center, private dock and business center with complimentary Wi-Fi. |
The off-market Beach Club transaction closed on Nov. 6. Beacon obtained acquisition financing from Berkadia/Freddie Mac.
Completed
in 1979, the 200-unit Beach Club is a compelling value-add
opportunity for Beacon near Westshore Business District. Residents
benefit from the community’s easy access to I-275, the Tampa International
Airport, Lowry Park Zoo and various shopping and dining venues.
Community
amenities include a swimming pool, outdoor kitchen, fitness
center, private dock and business center with complimentary Wi-Fi. Beach Club
is pet-friendly with a dog park and walking paths.
Richard Kulick
“We are thrilled to add Beach Club to our robust portfolio of multifamily assets in the Southeast U.S.,” Beacon Managing Partner Richard Kulick said. “Our team will implement an extensive capital improvements program to upgrade the community.”
Berkadia arranged
the property transaction and financing.
Beacon
continues to aggressively pursue multifamily acquisitions in Florida and
Georgia.
“Our
investment strategy revolves around following where the jobs are going,” Beacon
Managing Partner Carlos E. Imery said. “The
Tampa area has benefitted from substantial job creation in technology, finance and healthcare.”
Beacon
owns more than 6,500 multifamily units in the Southeast U.S., with a
strong focus on secondary markets. The company’s portfolio also includes over 1
million square feet of office and retail properties in the region.
Carlos E. Imery
About Beacon
Real Estate Group
Based
in Coral Gables, Florida, Beacon Real Estate Group is a commercial real estate
firm that specializes in the acquisition and management of multifamily,
office and retail properties in the Southeastern quadrant of the U.S.
Beacon is led by real estate veterans Richard
Kulick and Carlos Imery. The firm and its affiliates were founded in 1967
and have more than 50 years of continues experience.
Beacon currently controls over 10 million
square feet of U.S. commercial real estate.
CONTACT:
Eric Kalis
Vice President
BoardroomPR
O 954-370-8999
C 305-794-5123
Bank
of America Plaza | 1776 N Pine Island Road
Suite
320 | Fort Lauderdale, FL 33322
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