Nuveen buys Brandon apartments for $77.5 million

Deal is for recently developed, 366-unit multifamily rental complex

By Kevin McQuaid
| 6:00 a.m. June 21, 2019
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Commercial Real Estate

An affiliate of Nuveen Real Estate Management Ltd. has acquired the former Azola Apartments in the Brandon section of Tampa for $77.5 million, the latest in a string of multifamily purchases by the Teachers Insurance & Annuity Association investment arm.

Nuveen bought the 366-unit complex, on 25 acres at 9303 Cobalt Drive, from a group comprising Zom Living, the Mattoni Group and Clarion Partners LLC, of New York.