A joint venture between Cardinal Point Management and Long Wharf Real Estate Partners has purchased the majority of units being sold at The Slade, in downtown Tampa, for an undisclosed amount. The deal included 214 of the 294 total condominium units and 11,613 of the 13,193 square feet of ground floor retail space. Built in 2009, the acquisition features two eight-story residential towers that encompass one-, two- and three-bedroom floor plans averaging 935 sq ft. Located on East Washington Street in downtown Tampaās Channelside neighborhood, the property features a swimming pool and spa, a two-story fitness center with yoga room, 24-hour concierge service and an attached, six-story parking garage.
HFFās Tampa-based multi-housing team, led by Matt Mitchell and Chris Drew, arranged the joint venture between the two parties and arranged financing for the purchase. āWe have seen a significant increase in demand from institutional capital to invest in downtown Tampa and Channelside. We anticipate this demand will only increase further as additional projects are delivered and the Channelside/Downtown market continues to evolve into one of Floridaās most active live-work-play environments,ā stated Drew.
