Berkadia arranges $23 million sale of 218-unit multifamily community in Tampa

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River Gardens
Berkadia arranged the $23 million sale of River Gardens, a 218-unit multifamily community in Tampa.

Berkadia announces it has arranged the $23 million sale of River Gardens, a 218-unit multifamily community in Tampa. Managing Director Jason Stanton of Berkadia’s Tampa office and Senior Managing Director Cole Whitaker of Berkadia’s Orlando office secured the sale on behalf of KCB Real Estate Management LLC and Main Street Residential is the buyer.

“Tampa’s status as one of the country’s fastest-growing cities in the nation with a diverse mix of business sectors exemplifies the area’s favorable dynamics that support forward-thinking multifamily investment,” said Stanton. “Downtown Tampa’s benefit of receiving a projected $13 billion in investment over the next couple of years means greater opportunity for the nearby residents of River Gardens, offering a variety of entertainment and employment options to enjoy.”

Built in 1965, River Gardens is located at 4009 North Howard Avenue. Studios, one-, two- and three-bedroom units. Community amenities feature river views, private boat docks, three swimming pools, fitness center, resident clubhouse and bark park.

Situated on the Hillsborough River, the community is near multiple employers in the Westshore Business District and Downtown Tampa and transit routes with Interstate 275 just under five minutes from the property, offering direct access into Downtown Tampa, Tampa International Airport and St. Petersburg.