June 12, 2019
Miami-based Related Group acquired the Bay Oaks apartment community in Tampa’s Bayshore neighborhood for $26.2 million. Located at 3105 Bay Oaks Ct., the garden-style community consists of 176 units.
Luis Elorza, Brad Capas, Robert Given and Michael Mulkern of Cushman & Wakefield represented the seller, Nashville-based Carter-Haston, in the transaction. Chris Lentz and Robert Kaplan of Cushman & Wakefield secured financing on behalf of The Related Group through lender Barings Multifamily Capital.
The community, which is currently 97% leased, was constructed in 1974 on a nearly five-acre site. Features of the complex include private patios, premium appliances, walk-in closets and waterfront views of Hillsborough Bay. Amenities include a fitness center, swimming pool, grilling stations and a car care center.
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