Havana Square perpetuates multifamily trend

A 274-unit luxury apartment project in Tampa has sold for $58.1 million, perpetuating a sales trend involving multifamily rental projects that has dominated along the Gulf Coast since 2014.

Havana Square, which was completed in 2017 by Pollack Shores Real Estate Group, of Atlanta, was sold to Nicol Investment Co.

The Class A complex, where units average 804 square feet, feature quartz or granite countertops, stainless steel appliances, walk-in closets, in-unit washers and dryers and wood flooring.

The four-story complex, at 400 N. Rome Ave., also contains amenities such as a swimming pool, outdoor kitchen, bocce ball court and fire pits.

Pollack Shores was represented in the sale by commercial real estate brokerage firm Holliday Fenoglio Fowler L.P.'s Matt Mitchell and Zach Nolan.

Mitchell, an HFF senior managing director, sales Pollack Shores “recognized and met the need for upscale, sophisticated housing in the city's urban core.”

Nicol, of Nashville, has made an annual habit of acquiring upscale apartment projects in the Tampa area the past three years.

In late 2016, it acquired the 374-unit Crescent Westshore complex for $80 million, and the year prior, it bought an Altamonte Springs' multifamily project for $49 million.