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| The Slade Condominiums, 1190 East Washington Street, Downtown Tampa, FL |
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| Matt Mitchell |
TAMPA, FL – Nov. 18, 2015
– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the
sale of and arranged joint venture equity and acquisition financing for The Slade, a 214-unit, eight-story bulk
condominium transaction in downtown Tampa, Florida.
HFF’s Tampa-based
multi-housing team, led by Matt
Mitchell, marketed the offering on behalf of Crescent Heights®. HFF’s capital markets team, led by Chris Drew, arranged a joint venture
between Cardinal Point Management and Long Wharf Real Estate Partners, which
purchased the asset for an undisclosed amount.
Additionally, HFF’s
capital markets team worked on behalf of the new owners to place fixed-rate
acquisition financing with CapitalSource, a division of Pacific Western Bank.
Completed in 2009, The
Slade features two eight-story residential towers that encompass one-, two- and
three-bedroom floor plans averaging 935 square feet each. The offering included 214 of the 294 total
condominium units and 11,613 of the 13,193 square feet of ground floor retail
space.
Property amenities include
landscaped courtyards, infinity swimming pool with spa, two-story fitness
center with yoga room, club room, cyber café, 24-hour concierge service and an
attached, six-story parking garage.
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| Chris Drew |
“The investment market is
excited about the growth of downtown Tampa, especially in Channelside. As the neighborhood continues to build out
and add amenities, The Slade is well positioned to serve the growing demand for
residences, whether as rentals or as for-sale product,” commented Mitchell.
“We have seen a
significant increase in demand from institutional capital to invest in downtown
Tampa and Channelside.
"We anticipate this demand will only increase further as additional projects are delivered and the Channelside/Downtown market continues to evolve into one of Florida’s most active live-work-play environments,” added Drew.
"We anticipate this demand will only increase further as additional projects are delivered and the Channelside/Downtown market continues to evolve into one of Florida’s most active live-work-play environments,” added Drew.
For a
complete copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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