Tampa apartment complex sells for $63 million

Azola South Tampa, a 214-unit complex nestled in the South Tampa neighborhood of Rembrandt Gardens on the outskirts of MacDill Air Force Base, has sold for $64.3 million.

Miami-based multifamily real estate investment firm Momentum Real Estate Partners bought the building, according to a statement.

Azola South Tampa floor plans range from 750 square-foot one-bedroom apartments to 2,100 square-foot townhome units with three bedrooms and two and a half bathrooms.

Some amenities of the complex include a 6,000-square-foot clubhouse with a resident lounge, coworking areas, a kitchenette, a gaming room with billiards, and a fitness center. The outdoor portion of the community includes a partially shaded dog park, a swimming pool and a pavilion.

“Tampa has undergone a significant real estate boom in recent years and stands out as one of the nation’s fastest-growing metropolitan areas,” says Greg West, CEO of ZOM Living, in the statement. “The sale of this community underscores the robust demand we’ve witnessed for amenity-rich living spaces, reflected by our consistently strong property performance over the years.”

ZOM Living has been developing in the Tampa area for 30 years and the recent sale is not a sign that it’s pulling out of the region. The company announced in May it secured a $63 million construction loan to begin building MetWest Residential, a new 375-unit community with 3,000 square feet of mixed-use retail space situated in Tampa’s Westshore District.