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NorthMarq Arranges $66M Sale of Multifamily in Tampa Sweet Spot
The Beck at Hidden River, a Class A, 204-unit community, has been purchased by Raia Capital Management for $66.3 million ($325,000 per unit).
The property was built in 2021 and is comprised of 46 percent one-bedroom, 50 percent two-bedroom and 4 percent three-bedroom units with an average unit size of 971 square feet.
NorthMarq’s Tampa investment sales team of Luis Elorza and Justin Hofford represented the seller, Oxford Properties.
“The Beck at Hidden River’s impeccable location offers easy access to the major employment districts of Downtown Tampa, Westshore Business District, University of South Florida and the I-75 office corridor,” said Elorza. “The property sits within the 1.1-million-square-foot Hidden River Corporate Park and is walking distance to several fortune 500 companies, giving residents unparalleled access to highly skilled jobs.”
The Tampa Bay MSA population is expected to grow by 25% over the next 20 years, to 3.8 million.
- ◦Sale/Acquisition
