A high rise apartment community in Tampa, FL has traded to the Arlington, VA-based Snell Properties for $136 million. The seller was ECI Group and the name of the 324-unit complex is the Channel Club.
The 22-story trophy tower is anchored by a Publix Super Market, which was not part of the sale. It was developed by ECI in 2019 and features one- and two-bedroom apartments averaging 911 square feet. The Channel Club is located within the Channel District, a former industrial district that is morphing into an emerging walkable location. The ECI Group continues to invest in this submarket, recently starting development on a Phase II property, the Parc Madison, with 351 apartment units, on the same block as the Channel Club and Madison Street Park.
Francesco Carriera of CBRE represented the ECI Group in the sale.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
