Miami real estate company pays nearly $52 million for Tampa apartment complex

A Miami commercial real estate firm has bought the Pointe at Carrollwood apartments in Hillsborough County.

The 224-unit complex at 4949 Marbrisa Drive, off Gunn Highway, sold for $51.5 million, according to county property records. The buyer is Beacon Real Estate Group, which is based in Coral Gables.

Property records show the owners as 4949 Marbrisa Pointe LLC. According to the state’s Division of Corporations database, the company has the same address as Beacon.

The firm lists the Pointe on the portfolio page of its website, calling it a “vintage multifamily property located within the prized Carrollwood submarket in Tampa.” The complex was built in 1984.

The $51 million price tag is slightly less than double the $26.5 million the previous owner paid in 2017. But it is far less than some properties have been changing hands for in the area. For example, a 372-unit complex in Clearwater recently sold for $80.2 million.

However, the price tag is deceiving. When you break it down per unit, Beacon paid about $227,000 per unit for the Carrollwood complex compared with about $215,000 per unit paid by the new owners of the Clearwater property.

Beacon was founded in 1967 and specializes in multifamily and retail properties. According to its website, the firm manages more than 10 million square feet, mostly in the southeast.

In Florida, it manages 1,728 units, making up 1.5 million square feet of space, in multifamily properties and 155,786 square feet in retail.