Garden-style apartments on former Big Top Flea Market site sell for $83.75 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Aug 18, 2023

A garden-style apartment complex in a Tampa suburb has sold for $83.75 million.

The complex previously known as Livano Uptown was sold to New York-based The Praedium Group on Aug. 14, according to Hillsborough County property records. The seller was Birmingham, Alabama-based LIV Development, which bought the property in 2021.

The purchase price breaks down to $286,615 per apartment.

The 292-unit complex has been rebranded Tessa Springs. Matt Mitchell and Bailey Smith of Berkadia Tampa represented LIV in the transaction.

“LIV Development was ahead of the curve by delivering a best-in-class product in an undersupplied submarket surrounded by major economic drivers and some of Tampa’s largest employers,” Mitchell said in a statement.

The property is less than 4 miles from the Tampa Innovation District, which is home to the University of South Florida, the James A. Haley Veterans Hospital, H. Lee Moffit Cancer Center and the USF Research Park. It is also near Amazon.com’s Temple Terrace fulfillment center.