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| Part of Temple Acres Portfolio, Temple Acres, FL |
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| Casey Babb |
Casey Babb, a CCIM and senior multifamily specialist,
and Luis Baez, associate in Marcus & Millichap’s Tampa office,
represented the seller, a local private investor. Babb and Baez also represented the buyer of the property, a
foreign private investor based in Montreal, Canada.
The Temple Acres Portfolio is located at 10400 Davis Road,
8726 Springtree Lane and 8700 Copeland Road in Tampa, Florida. This is a 1970s garden apartment portfolio
consisting of three communities located within a half-mile radius of one
another in east Tampa, near Temple Terrace.
They are housed in
single-story duplex buildings with concrete block exterior walls and pitched
shingle roofs. Units feature private
entrances, functional floor plans, fully appointed kitchens and baths,
individual air-conditioning and either country water and sewer, or septic water
and sewer.
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| Luis Baez |
All three properties feature large, open green space, mature
oak trees and a quiet, residential neighborhood setting.
“The Temple Acres sale was a challenge since the units were
1970s vintage and in three separate locations,” says Babb. “We offered above average yield and were
able to generate nine offers during our marketing campaign,” continues
Babb.
“The seller was a local doctor
who had owned the property for nearly 15 years and this is the Canadian buyer’s
first acquisition in the Tampa Bay area.”
For a complete copy of the company’s news release, please
contact:
Richard D. Matricaria
Regional Manager
Tampa, FL
(813) 387-4700
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