Tampa Bay apartment market continues to flourish

Related Group deal for Icon Harbour Island sets pricing record

  • By Kevin McQuaid
  • | 6:00 a.m. November 22, 2019
  • | 0 Free Articles Remaining!
COURTESY PHOTO — Olympus Property of Texas paid a record $131.5 million for the 21-story Icon Harbour Island apartment building, which was completed by The Related Group in 2017.
COURTESY PHOTO — Olympus Property of Texas paid a record $131.5 million for the 21-story Icon Harbour Island apartment building, which was completed by The Related Group in 2017.
  • Commercial Real Estate
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Fueled by gains in affluent population and job growth, Tampa Bay multifamily rental investment sales have mushroomed over the past three years — with few signs of abating.

Earlier this month, Miami-based Related Group perpetuated the trend when it sold its 21-story Icon Harbour Island luxury complex for a record $131.5 million to Olympus Property, of Fort Worth, Texas.

 

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