Multifamily Stories in Tampa Bay

INDIAN SHORES - Southwind Hospitality announced that Days Inn Jasper, in Jasper, Fla., and La Quinta Inn & Suites Tampa North, in Temple Terrace, both currently in receivership, officially joined Southwind’s growing roster of clients.

Southwind President Gilles Arditi has been appointed as receiver on each, and the company has signed full management contracts. Southwind will plan and oversee all operations at the hotels, including budgeting, sales and marketing, property operations, safety checks, renovations and clean-ups.

TAMPA - The Towers of Channelside, a residential condominium community in downtown Tampa’s Channel District, has received Fannie Mae approval.

JMC Realty Inc., which took over marketing and sales at the luxury tower in February, is very pleased with the approval. “Fannie Mae approval is an indication that the Towers of Channelside is a healthy community and a solid investment with long-term viability,” said Steve McAuliffe, president of JMC Realty. “Over 70% of the homes have been sold.”

TAMPA - CB Richard Ellis represented FHFC III Inc. in the sale disposition of The Landings at Boot Ranch West. The 232-unit apartment community in Palm Harbor was purchased by WRH Boot Ranc LLLP for $11.25 million, or $48,491 per unit.

John Selby and Jim Bobbitt with the CBRE Multi-housing Group in Tampa were advisors to the seller in the transaction.

TAMPA - Marcus & Millichap Real Estate Investment Services announced the sale of Casa del Sol, a 20-unit, garden apartment property in Tampa. The asset commanded a sales price of $450,000 or $22,500/unit.

Casey Babb, CCIM, a senior investment specialist, and Luis Baez, an investment specialist in Marcus & Millichap’s Tampa office, facilitated the transaction on behalf of both the seller, a regional bank, and the buyer, a local private investor.