The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announces the sale of Mabry Manor, a 372-unit B class multifamily apartment community in Tampa, FL, to TLR Group for the gross purchase price of approximately $42.8 million. This transaction marks the 51st successful property sale for RADCO during this real estate cycle.
The pet-friendly community features a mix of studio, one- and two-bedroom apartments with open floorplans, gourmet kitchens and patios/balconies. Community amenities include pool and sundeck, fitness center, clubhouse, fully stocked lakes with floating deck and fishing pier, coffee bar, laundry facilities and business center.
Mabry Manor is conveniently located near I-275, I-75, I-4 and public transportation, offering easy access to Al Lopez Field, Raymond James Stadium and Tampa International Airport. The property is minutes from Downtown Tampa and Tampa Bay, offering a wide variety of dining, entertainment, and recreational activities.
“This sale is the latest example of the execution of our successful three- to five-year business model,” said Norman Radow, CEO of The RADCO Companies. “We are extremely pleased with the improvements and value we have added to Mabry Manor during our ownership, producing positive results for both the community and our investors.”