{"id":1710,"date":"2019-06-10T15:15:54","date_gmt":"2019-06-10T19:15:54","guid":{"rendered":"https:\/\/www.meyer.media\/?p=1710"},"modified":"2019-06-10T15:29:21","modified_gmt":"2019-06-10T19:29:21","slug":"cushman-wakefield-arranges-26-25m-sale-of-bay-oaks-apartments","status":"publish","type":"post","link":"https:\/\/www.meyer.media\/2019\/06\/10\/cushman-wakefield-arranges-26-25m-sale-of-bay-oaks-apartments\/","title":{"rendered":"Cushman & Wakefield Arranges $26.25M Sale of Bay Oaks Apartments"},"content":{"rendered":"
\"Bay<\/a>
Bay Oaks<\/figcaption><\/figure>\n

The Related Group Acquired the 176-Unit Multifamily Community on Bayshore Boulevard in South Tampa<\/em><\/strong><\/p>\n

TAMPA, FL, June 7, 2019<\/strong> \u2014 Cushman & Wakefield<\/a> has negotiated the sale of Bay Oaks<\/a>, a 176-unit multifamily community in South Tampa.<\/p>\n

Luis Elorza<\/a>, Brad Capas<\/a>, Robert Given<\/a> and Michael Mulkern<\/a> of Cushman & Wakefield’s Florida Multifamily Group<\/a> represented Nashville-based Carter-Haston<\/a> in the sale. The Related Group<\/a>, located in Miami, acquired the property for $26.25 million ($149,148 per unit). Chris Lentz<\/a> and Robert Kaplan<\/a> of Cushman & Wakefield\u2019s Equity, Debt & Structured Finance Team placed agency debt financing on behalf of The Related Group with Barings Multifamily Capital<\/a>.<\/p>\n

Bay Oaks is a garden-style property with a mix of one- and two-bedroom units. The community was 97.2% leased at the time of sale.<\/p>\n

Units at Bay Oaks offer a private balcony\/patio, wood-style flooring, premium appliances, air conditioning and walk-in closets. Select units have stunning waterfront views of Hillsborough Bay. The community features 24-hour fitness center, resort-inspired swimming pool, community grilling stations, a luxurious clubhouse, on-site management, a car care center and laundry facilities.<\/p>\n

Bay Oaks was developed in 1974 on a \u00b14.65-acre site at 3105 Bay Oaks Ct.<\/a> This location provides exceptional access to the Tampa market via Selmon Expressway and is proximate to the region\u2019s major employment centers as well numerous retail, dining and entertainment venues.<\/p>\n

\u201cBay Oaks is an outstanding value-add investment opportunity as well as a prime candidate for future redevelopment,\u201d said Elorza. \u201cIt\u2019s unique waterfront location is a short drive to Hyde Park Village, the Westshore office market, Tampa International Airport and downtown Tampa. Bayshore Boulevard in central South Tampa is one of the most highly sought-after locations on the West Coast of Florida for both residents and investors.\u201d<\/p>\n

Added Lentz, \u201cWorking with exceptional firms such as Related and Barings on the financing allowed for an efficient placement process, with agency financing providing the optimal capital source. We look forward to future transactions with both firms.\u201d<\/p>\n

Cushman & Wakefield\u2019s Florida Multifamily Team, directed by Given, includes Elorza, Capas, Mulkern, Nick Meoli and Mike Donaldson in West-Central Florida; Jay Ballard<\/a> and Ken Delvillar<\/a> in Central Florida; and Zachary Sackley<\/a>, Troy Ballard<\/a>, Calum Weaver<\/a>, Errol Blumer<\/a>, Neal Victor<\/a>, James Quinn<\/a> and Perry Synanidis<\/a> in South Florida. Kaplan, Lentz and Mark Rutherford<\/a> facilitate debt, equity and structured finance for the team throughout Florida.<\/p>\n

About Cushman & Wakefield<\/strong><\/p>\n

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit\u00a0www.cushmanwakefield.com<\/a> or follow @CushWake<\/a> on Twitter.<\/p>\n

Media Assets<\/strong><\/p>\n

Bay Oaks Photo<\/a>
\nLuis Elorza Headshot<\/a>
\nBrad Capas Headshot<\/a>
\nRobert Given Headshot<\/a>
\nMichael Mulkern Headshot<\/a>
\nRobert Kaplan Headshot<\/a>
\nChris Lentz Headshot<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Luis Elorza, Brad Capas, Robert Given and Michael Mulkern of Cushman & Wakefield\u2019s Florida Multifamily Group have negotiated the $26.25 million sale of Bay Oaks, a 176-unit multifamily community in South Tampa. Chris Lentz and Robert Kaplan of Cushman & Wakefield\u2019s Equity, Debt & Structured Finance Team placed agency debt financing on behalf of the buyer. <\/p>\n","protected":false},"author":1,"featured_media":1686,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[2429,2427,50,2428,2424,1076,2156,1887,49,4,700,1427,146,29,2423,166,1075,12,13,1079,35,2426,103,2425],"class_list":["post-1710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pr","tag-3105-bay-oaks-court","tag-agency-debt","tag-apartments","tag-barings-multifamily-capital","tag-bay-oaks","tag-brad-capas","tag-carter-haston","tag-chris-lentz","tag-commercial-real-estate","tag-cushman-wakefield","tag-disposition","tag-edsf","tag-financing","tag-florida","tag-lending","tag-loan","tag-luis-elorza","tag-multifamily","tag-robert-given","tag-robert-kaplan","tag-sale","tag-south-tampa","tag-tampa","tag-the-related-group"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.meyer.media\/wp-content\/uploads\/2019\/05\/bay-oaks-photo.jpg?fit=3000%2C1782&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p79IL5-rA","_links":{"self":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/comments?post=1710"}],"version-history":[{"count":2,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1710\/revisions"}],"predecessor-version":[{"id":1713,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/posts\/1710\/revisions\/1713"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/media\/1686"}],"wp:attachment":[{"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/media?parent=1710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/categories?post=1710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meyer.media\/wp-json\/wp\/v2\/tags?post=1710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}