Cove Apartments in Tampa sells for $96.5 million

New York investor's purchase continues string of multifamily rental transactions

By Kevin McQuaid
| 6:00 a.m. June 15, 2018
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Commercial Real Estate

In one of the largest sales of a vintage apartment complex along the Gulf Coast in the past decade, a New York-based investment firm has spent $96.5 million to acquire the Cove Apartments in the Westshore area of Tampa.

Gamma Real Estate’s purchase of the 689-unit, waterfront multifamily project comes as investors are more readily considering older complexes in quality locations.