Real estate company

Miami real estate firm pays nearly $52 million for Tampa apartment complex | Business Observer

A Miami commercial real estate company has purchased the Pointe at Carrollwood apartments in Hillsborough County.

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

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

The company lists the Pointe on its website’s portfolio page, calling it “a vintage multifamily property located in Tampa’s popular Carrollwood submarket.” The complex was built in 1984.

The $51 million price tag is just under double the $26.5 million the previous owner paid in 2017. But that’s far less than some properties have changed hands in the area. For example, a 372-unit complex in Clearwater recently sold for $80.2 million.

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

Beacon was founded in 1967 and specializes in multi-family and commercial properties. According to its website, the company manages more than 10 million square feet, mostly in the Southeast.

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

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