TAMPA, FL - JBM Institutional Multifamily Advisors has facilitated the sale of The Marquis of Tampa, totaling 354 units sold for a purchase price of $60,401,000, or $170,624 per unit. Jamie May, Chairman & CEO of JBM Institutional Multifamily Advisors, stated this core, value-add asset is located in a highly desirable area; therefore, it was no surprise that the property received a staggering number of tours and had a very competitive buyer pool.
The Marquis of Tampa was completed in 1998 and offers a diverse unit mix of one, two, three- and four-bedroom units with an average unit size of 1,206 square feet. All units feature direct access garages. In total, there are 36, two-story residential buildings with preservation land throughout, creating a relaxing park-like setting.
The expansive amenity package includes two resort-style pools with expansive sundecks, two jetted spas, clubhouse with business center, theater room, fitness center, package receiving area, tennis court, dog park, dry saunas and showers, outdoor lanai with gas grill, and gated entry.
The property was purchased by Axonic Residential, who owns 952 units throughout Florida. The JBM Institutional Multifamily Advisors team has listed and sold over 43,330 units within the Tampa Bay MSA, and over 157,000 units throughout Florida.