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Nicol Investment Co Purchases Havana Square for $58M

Pollack Shores Real Estate Group LLC Sells 274-Unit Multifamily Property in Tampa
February 14, 2018
The Nicol Investment Company purchased the Havana Square apartments at 400 N. Rome Ave. in Tampa, FL from Pollack Shores Real Estate Group for $58 million, or about $212,000 per unit.

The 220,375-square-foot multifamily property was constructed in 2017 in the North Hyde Park multifamily submarket, near Tampa. The property has four stories with up to three-bedroom units that feature granite countertops, stainless steel appliances, walk-in closets and private balconies.

"Capitalizing on the recent momentum of the rapidly-emerging North Hyde Park neighborhood, the seller recognized and met the need for upscale, sophisticated housing in the city’s urban core," said Matt Mitchell, managing director with HFF. "The community provides walkable access to the area’s bars, eateries, shops and other recreational amenities, and appeals to millennials and young families that have moved into the neighborhood."

Matt Mitchell and Zach Nolan of HFF represented the seller. The buyer handled the sale in-house.

Please see CoStar COMPS #4101279 for more information on this transaction.
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