Important Road Residential Completes $23 Million Acquisition of 218-Unit River Gardens House Neighborhood in Tampa, Florida

Main Street Residential Completes $23 Million Acquisition of 218-Unit River Gardens Apartment Community in Tampa, Florida

TAMPA, FL – Main Street Residential, a Florida-based multi-family investment group, announced the acquisition of River Gardens Apartments in Tampa, FL for $ 23 million. Berkadia represented KCB Real Estate Management on the sale to Main Street Residential.

The property built by CBS consists of 218 units that offer garden-style apartments with one, two or three bedrooms. River Gardens offers many exemplary amenities, including direct water access with boat docks, water transportation, three swimming pools, a clubhouse, fitness center, dog park, and large living spaces.

Todd C. Marshall, Managing Partner of Main Street Residential stated, "This acquisition is an exciting addition to our investment portfolio. River Gardens is a one-of-a-kind apartment building, built in 1965 and undergoing the Value-Add Signature renovation of Main Street Residential all interiors , public areas, amenities and outdoor areas of the apartment. "

River Gardens is located on the Hillsborough River at 4009 North Howard Avenue in Tampa, Hillsborough County, FL. It is close to several employers in the Westshore Business District with direct access to downtown Tampa and five minutes from I-275. This locale offers the quality of life, rapid immigration, healthy job growth, and affordable housing that Tampa-St. Petersburg-Clearwater Metro Statistical Area (MSA) is one of the fastest growing metro areas in the country. The Tampa Bay area is the center of population on Florida's Gulf Coast with over 3.1 million residents and an active workforce, one of the largest in the state.

Source: Main street residential


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