Institutional Property Advisors Closes Tampa Bay Area Multifamily Asset Sale

TAMPA, Fla., Dec. 5, 2023 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Buena Vista, a 240-unit multifamily property in Tampa, Florida.

“Buena Vista is well positioned as a desirable value-add candidate with its infill location and Tampa’s strong prospects for continued growth,” said IPA senior vice president Sean Williams. “This transaction highlights the strong trend of capital inflow to the state of Florida,” added Shelton Granade, IPA executive managing director. Granade and Williams, along with IPA’s Luke Wickham and Justin Basquill represented the seller, Westside Capital Group, and procured the buyer, Infinity BH.

Buena Vista is a three-story, garden-style property featuring covered parking, a resort-style swimming pool, clubhouse, fitness center, coffee bar, and business center. The studio, one- and two-bedroom floorplans offer attractive amenities including washer and dryer connections and select upgraded units. The community is in a central location with quick access to a majority of Tampa’s major demand drivers such as St. Joseph’s Hospital, Downtown Tampa, the Westshore business district, and Tampa International Airport.

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About Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.