TAMPA, FL (July 30, 2021) — Franklin Street is pleased to welcome Hanley Place, a 400-unit apartment community in Tampa’s Town ‘N’ Country submarket, to its portfolio of managed properties. The community is the second multifamily asset owner ZMR Capital has tapped the Franklin Street team to manage in the last two months, the first being a 338-unit property in Fort Myers called Thee Boardwalk.
Franklin Street will work closely with ZMR Capital to implement a full exterior and interior renovation program to maximize the 1970s era property’s value and allow it to compete with newer communities in Tampa’s high-demand rental market. Upgrades will include adding in-unit washer and dryers among other significant interior improvements.
“We are pleased to congratulate ZMR Capital on this acquisition and are excited to make Hanley Place the second ZMR property in our portfolio,” said Clint Miller, VP of Operations with Franklin Street’s property management division. “We look forward to embarking on this significant capital improvement program to increase this property’s desirability and value by driving rent growth accordingly in Tampa’s booming multifamily market.”
Hanley Place features one-, two- and three-bedroom units ranging from 712 to 1,300 square feet. All floor plans currently include full kitchens with dishwashers, walk-in closets, extra storage and separate dining areas. Amenities include two swimming pools with lounge areas, a clubhouse and business center, a gym, a playground, a dog park and outdoor picnic and grilling spaces.
At 7315 W Hanna Ave., Hanley Place is conveniently located within proximity to numerous shopping and dining options, as well as Tampa International Airport and the Westshore Business District.
ZMR Capital, based in Orlando, is a real estate investment firm focused on the acquisition and redevelopment of value-add multifamily assets in primary, secondary and emerging markets across the United States.
“With its large footprint, strong unit mix and central location, Hanley Place is a perfect fit as we expand our portfolio in Tampa,” said Zamir Kazi, CEO of ZMR Capital. “Between our extensive planned improvements, Franklin Street’s superior management services and the Tampa market’s strong demographics and economy, we are confident Hanley Place will see long-term growth and stability.”
Franklin Street’s Teryl Tarver will serve as Regional Property Manager for Hanley Place. Franklin Street’s Michael Shadeed, Senior Director of Insurance Services, represented ZMR Capital in its commercial insurance needs.
About Franklin Street:
Founded in 2006 during one of the toughest real estate climates, Franklin Street 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 lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With more than $5 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the company has offices in Fort Lauderdale, Jacksonville, Miami, Orlando and Atlanta. Learn more about Franklin Street at FranklinSt.com.