Sunstone Properties Trust Acquires Multifamily Property In Tampa For $59M

The multifamily property located at 12702 University Club Drive in Tampa was recently sold for $59,000,000. The property consists of 536 units, with an average price per unit (PPU) of $110,075. The transaction took place on January 11, 2021.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $59,000,000
• Address: 12702 University Club Drive
• Market: Tampa
• Units: 536
• Price Per Unit (PPU): $110,075

The buyer of the property was Sunstone Properties Trust, while the seller was The RADCO Companies, represented by Norman Radow. The transaction was facilitated by brokers Patrick Dufour, Ryan Moody, Ryan Crowley, Andrew Visnick, and Pibu Aulakh from Newmark.