Advenir Acquires Newly Built Tampa Apartment Complex For $47.8M

The Watson, a newly built Tampa apartment complex, has been acquired by Advenir for nearly $47.8 million. Situated on 10.5 acres, the property features 205 apartments, resulting in a sale price of $233,143 per unit.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $47,800,000
• Address: 4502 West McCoy Street, Tampa
• Market: Tampa
• Acres: 10.5

Advenir, represented by Stephen Vecchitto and David Vecchitto, served as the buyer in this transaction. The seller, Penler, was represented by Graham Carpenter. The property's 205 apartments provide a significant investment opportunity in the Tampa market, demonstrating Advenir's commitment to expanding its portfolio in the multifamily sector. The acquisition of The Watson aligns with their strategic growth plan.