Carter Multifamily Acquires Solis At Ballast Point Multifamily For $57.5M

The Solis at Ballast Point, a 276-unit multifamily property located at 6306 MacDill Avenue in Tampa, Florida, has been sold for $57.5 million. The transaction was completed by Carter Multifamily, represented by Ray Hutchinson, as the buyer, and the seller was Investors Management Group. The property spans across 22 acres and has a total square footage of 218,592. The purchase price per unit is approximately $208,333, with a price per square foot of $263. The new owners plan to rebrand the property as "Mode at Ballast Point" and make various upgrades to amenities, unit interiors, and building exteriors.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $57,500,000
• Address: 6306 MacDill Avenue, Tampa
• Market: Tampa
• Buyer: Carter Multifamily - Ray Hutchinson
• Seller: Investors Management Group
• Number of Units: 276
• Price per Unit: $208,333
• Square Footage: 218,592
• Price per Square Foot: $263

The acquisition of the Solis at Ballast Point was spearheaded by Carter Multifamily, with Ray Hutchinson acting as the representative for the buyer. On the other hand, the Investors Management Group was the seller in this transaction. The new owners have announced plans to enhance the property by upgrading various amenities, as well as refreshing the unit interiors and building exteriors. These improvements aim to create an improved living experience for the residents of Mode at Ballast Point in Tampa.