Tampa, Fla. (July 6, 2020) – Berkadia announces it has arranged the sale of Mabry Manor, a 372-unit garden-style multifamily community located in Tampa, Florida. Managing Director Jason Stanton of Berkadia’s Tampa office and Cole Whitaker of Berkadia’s Orlando office marketed the property on behalf of the seller, Radco Companies. TLR Group, a Tampa-based multifamily investment and management firm with a strong presence in the Tampa Bay multifamily market, purchased the property.
“Mabry Manor was a prime candidate for a value-add program due to its infill Tampa location and the amount of capital that the previous owner had invested in upgrades to common areas and the exterior curb appeal,” explained Stanton. “The new owner has an opportunity to generate additional upside with upgrades to unit interiors.”
Built in 1984 and located at 4902 North Macdill Avenue, Mabry Manor consists of 22 two- and three-story buildings on an 18.5-acre site. The property offers a combination of studio, one- and two-bedroom units averaging 669 square feet. Apartments feature open floor plans, wood-style and carpeted floors, renovated gourmet kitchens, large closets, and water views. Community amenities include a swimming pool, playground, package receiving hub, laundry facilities, fitness center, coffee bar, clubhouse, business center, and fully stocked fishing lake.
Located in the Plaza Terrace neighborhood of northwest Tampa, Mabry Manor is ideally located just 15 minutes from Tampa International Airport and Downtown Tampa, and within five minutes of major employment centers such as St. Joseph’s Women’s Hospital and St. Joseph’s Children’s Hospital, the Art Institute of Tampa, and a variety of retail/dining/entertainment destinations.