Post Properties Asking $34 Mil for Two Tampa Area Apartment Assets

TAMPA, FL-Post Properties Inc. of Atlanta may be hitting the Tampa apartment market at the right time in December when it places two of its top-leased assets on the selling block for a combined asking price of $34.25 million or an average per-unit price of $62,047.

If the assets sold in that range, the per-unit prices would be among the highest logged in the Tampa Bay market in the past two years, according to that area’s most recent multifamily assessment by Marcus & Millichap. Class A and B properties were averaging $44,315 per unit in the early part of this year.

“The Tampa market experienced a 20% increase in average unit prices over the last three years, as investors focused more on class A and B properties,” Steven M. Ekovich, Marcus & Millichap’s vice president/regional manager for Florida, tells GlobeSt.com. “This trend reversed during the first quarter of this year with the majority of sales in the first 90 days comprising class C properties.”