Brookfield, Wisc.-based MLG Capital has acquired Oasis at Bayside, a Largo area apartment complex. The 304 unit community sits on a 7.5 acre site on Glades Circle, near Route 19, and consists of 28 buildings with one-, two- and three-bedroom residences. Units feature walk-in closets, outdoor storage and private patios, while residents have access to a 24-hour fitness center, a clubhouse, swimming pool, a dog park and 500 parking spaces. Located at 305 Glades Cir., the property was 96 percent leased at the time of the sale. Berkadia represented the seller, Redwood Capital Group during the transaction.
“The Tampa market saw declines in vacancy rates during the second quarter of this year, reinforcing the fundamental strength of the submarkets. Oasis at Bayside was a particularly appealing investment due to its proven value-add program and central location with quick access to Tampa, Clearwater and St. Petersburg,” said Senior Director Jason Stanton, Berkadia.
