ZMR Capital has paid $65 million to NorthEnd Equities for Hanley Place, a 400-unit multifamily property in Tampa, Fla. CBRE represented both parties.
The property last changed hands in 2018, when NorthEnd purchased it from Axionic Properties for $42.2 million, according to Yardi Matrix.
ZMR Capital plans to invest in extensive updates and capital improvements to the 1972-built community, CEO Zamir Kazi said in prepared remarks. The new owner selected Franklin Street to oversee property management.
Hanley Place encompasses 15 two- and three-story buildings on 25 acres at 7315 W. Hanna Ave. The property’s one- to three-bedroom floorplans range between 712 and 1,300 square feet. Community amenities include two swimming pools, a playground, four laundry facilities and roughly 1,000 parking places.