The 176-unit garden style multifamily development was sold by Nashville-based Carter-Haston. The deal for the property in Tampa's Bayshore submarket calculated out to a trade of $149,148 per unit. Bay Oaks is a 176-unit multifamily development in Tampa.

TAMPA—The Related Group of Miami has increased its multifamily portfolio with the $26.25 million purchase of the Bay Oaks apartment community here.

The 176-unit garden style multifamily development was sold by Nashville-based Carter-Haston. The deal for the property in Tampa's Bayshore submarket calculated out to a trade of $149,148 per unit. The community was 97.2% leased at the time of the sale.

Luis Elorza, Brad Capas, Robert Given and Michael Mulkern of Cushman & Wakefield's Florida Multifamily Group represented Carter-Haston in the sale. Chris Lentz and Robert Kaplan of Cushman & Wakefield's Equity, Debt & Structured Finance Team placed agency debt financing on behalf of The Related Group with Barings Multifamily Capital, the brokerage firm reports.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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