Praxis Capital Acquires 264-Unit Multifamily Property In Tampa For $32.7M

The multifamily property located at 3110 Grand Pavilion Drive in Tampa was recently sold for $32,700,000. The property consists of 264 units, making the price per unit approximately $123,864. The transaction took place on November 4, 2020, and the buyer of the property was Praxis Capital, while the seller was ESG Kullen. The deal was facilitated by brokers Cole Whitaker and Jason Stanton from Berkadia.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $32,700,000
• Units: 264
• Price Per Unit: $123,864
• Address: 3110 Grand Pavilion Drive, Tampa
• Market: Tampa
• Buyer: Praxis Capital
• Seller: ESG Kullen
• Brokers: Cole Whitaker & Jason Stanton – Berkadia

Cole Whitaker and Jason Stanton from Berkadia played key roles as brokers in this transaction, representing the buyer and seller respectively. Their expertise and negotiation skills contributed to the successful completion of the deal. Praxis Capital made an informed decision to acquire this multifamily property, which further strengthens their real estate portfolio. On the other hand, ESG Kullen made the strategic choice to sell the property, capitalizing on market demand and maximizing their return on investment.