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PO Box 1212 Tampa, FL 33601 Pinellas Updated August 2024
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RETURN TO NEWS INDEX South of Gandy apartments sell for $64 million Developer Zom Living has sold Azola South Tampa to Momentum Real Estate Partners for $64.3 million, according to Hillsborough County property records. Northwestern Mutual provided a $34.5 million mortgage for the acquisition.
The 214-unit complex broke ground in 2021. Zom is an active developer in the Tampa Bay region and recently partnered with MetLife Investment Management to develop a long-awaited apartment complex in MetWest International.
“Tampa has undergone a significant real estate boom in recent years and stands out as one of the nation’s fastest-growing metropolitan areas,” Greg West, CEO of Zom Living, said in a statement. “The sale of this community underscores the robust demand we’ve witnessed for amenity-rich living spaces, reflected by our consistently strong property performance over the years.”
Azola sold for significantly more per unit than Jade, a North Hyde Park apartment complex that sold in June for $264,656 per apartment, though Jade is in a more urban neighborhood favored by University of Tampa students. |
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