Institutional Property Advisors, a division of Marcus & Millichap, announced today the sale of Captiva Club, a 361-unit, garden-style multifamily property in Tampa, Florida.
“The inflow of capital into Florida continues to be very strong,” said Shelton Granade, IPA executive managing director. “Captiva Club is positioned as a desirable value-add candidate supported by its infill location, significant amenity footprint and Tampa’s strong prospects for continued growth,” added IPA senior vice president Sean Williams. IPA’s Granade, Williams, Luke Wickham and Justin Basquill represented the seller, Eagle Property Capital, and procured the buyer, Sinatra & Co. Real Estate.
Captiva Club has nearly 20 acres, two pools, a large fitness center, clubhouse, pet parks and courtyards. The studio, one-, two- and three-bedroom floorplans offer attractive amenities. Washer/dryer connections are included in most units.
The property is located along Memorial Highway with quick access to many of Tampa’s major demand drivers. Residents have access to 23 million square feet of office space, 19 million square feet of industrial, and 13 million square feet of retail within five miles. Major employment hubs nearby include the Westshore Business District, Rocky Point and Tampa International Airport.
