HFF Announces $58.088M Sale of Newly Built Tampa Apartment Community

1/8/18

Holliday Fenoglio Fowler, L.P. (HFF) announces the $58.088 million sale of Havana Square, a newly built, 274-unit luxury apartment community in Tampa, Florida.

The HFF team marketed the property on behalf of the seller, Pollack Shores Real Estate Group, LLC. Nicol Investment Company, a Nashville-based private investment firm, purchased the offering free and clear of existing debt.

Completed earlier this year, Havana Square is located at 400 N. Rome Avenue in the heart of Tampa’s North Hyde Park neighborhood, approximately one mile west of the central business district. The four-story, wrap-style property comprises one-, two- and three-bedroom units averaging 804 square feet with designer finishes, including quartz or granite countertops, stainless steel appliances, spacious walk-in closets, in-unit washers and dryers, USB outlets, wood plank flooring and large private balconies. Havana Square, which combines a modern, industrial-style with the feel of Old Havana, features two central courtyards with amenities such as a swimming pool, outdoor kitchen, bocce ball court, fire pits and grilling areas. Other community amenities include a state-of-the-art fitness studio; club room with game tables, kitchen and bar; and a six-story, secured-access parking garage.

The HFF investment sales team included senior managing director Matt Mitchell and director Zach Nolan.

“Capitalizing on the recent momentum of the rapidly emerging North Hyde Park neighborhood, the seller recognized and met the need for upscale, sophisticated housing in the city’s urban core,” Mitchell said. “The community provides walkable access to the area’s bars, eateries, shops and other recreational amenities, and appeals to millennials and young families that have moved into the neighborhood.”

About Pollack Shores Real Estate Group, LLC

Pollack Shores is an award-winning full service real estate company creating value through multifamily investment opportunities in the Southeast. Founded in 2006, the Atlanta-based company currently manages a balanced portfolio of nearly 20,000 multifamily units representing in excess of $1.3 billion in total assets. Pollack Shores fully embraces the core value of service to its community, its residents and its clients.

About Nicol Investment Company, LLC

Nicol Investment Company, LLC is a family owned real estate firm based in Nashville, Tennessee. Founded in 1975, the company has acquired or developed a diverse portfolio of real estate interests. Nicol targets high-quality, well-located Class A multifamily assets in growth markets located in the southeastern United States. The acquisition of Havana Square further reflects the company’s strategic and generational approach to investing in well-positioned Class A multifamily assets and is the firm’s third acquisition in Florida.

About HFF

HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

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