Riverview apartments sell for $66 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jan 5, 2024

A Riverview apartment complex has sold for $66 million.

The Pearce at Pavilion, which includes 250 units, sold to Los Angeles-based Universe Holdings in late December, according to Hillsborough County property records. The sale appears to have been a cash transaction; a mortgage has not yet been filed in Hillsborough records.

The seller, California-based Passco Cos., paid $51 million for the property in May 2017. The complex was built in 2016.

The sales price breaks down to $264,000 per apartment.

On Friday, a one-bedroom, 737-square-foot apartment in Pearce at Pavilion was renting for $1,746 per month. Apartments range from 737 to 1,280 square feet. Amenities include a pool, clubhouse and fitness center.