Tampa, FL (July 20, 2020) – Franklin Street has brokered the sale of Hollywood & Via Del Rio, an 11-unit apartment community located in the city of Tampa, Florida.
Franklin Street’s Tampa multifamily investment sales team, Avery Jordan, Zach Ames, Mark Savarese, and Darron Kattan represented the seller, Southern FL 46, LLC in the $1,350,000 transaction. The buyer, Hollywood Del Rio Apartments, LLC paid $122,727 per unit and is planning to implement select renovations to increase the value of the property. Franklin Street Capital arranged the financing for the deal.
“We sold at full asking price during the COVID-19 pandemic,” said Avery Jordan, senior associate in Franklin Street’s Tampa office. “We were able to go from contract signing to closing in 60 days despite various challenges presented by state and local restrictions. This demonstrates the continued strength of the market and specifically showcases the demand for resilient B class assets.”
Hollywood & Villa Del Rio is located at 708 & 714 Hollywood St in Tampa, Florida. Built in 1925, Hollywood & Villa Del Rio is comprised of 9,221 SF of living space. The waterfront property is located on the Hillsborough River in the historic Seminole Heights district.