Franklin Street announces the sale of Columbus Court Apartments in Tampa for $11 million. Located at 2802 Statelite Court, this sales price represents $68,750 per unit and $78.95 per foot.
Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger of Franklin Street represented both the seller, Rome Holdings, LLC, and the buyer, SP CC Apartments LLC, in the transaction.
“Columbus Court operates under a full project-based Section 8 contract. The buyers secured public funding which will allow them to renovate the property significantly, preserve the affordable restrictions and allow for residents who wouldn’t normally be able to afford to live in such a dynamic location the ability to do so,” said Kattan. “The need for quality affordable rental housing in the urban core is immense; this property will now be able to accommodate some of that demand for the long term.”
Columbus Court Apartments is a 160-unit, garden-style apartment community located in the desirable downtown Tampa submarket. Built in 1969, the property consists of eight three-story buildings comprised of concrete-block construction. The property’s advantageous and waterfront location provides excellent access to major thoroughfares and many local retailers.
About Franklin Street: Franklin Street is a family of full-service real estate companies focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions—Real Estate, Capital, Insurance, Management and Valuation—Franklin Street offers unmatched value and optimal solutions for clients nationwide. For more information on Franklin Street, please visit FranklinSt.com.