Tampa apartments near USF sell for $55.6M

A Utah-based real estate firm closed on a 264-unit Tampa apartment complex for $55.6 million last week, according to Hillsborough County records.

Bridge Investment Group purchased the Grand Pavilion from California-based Praxis Capital on June 30. The sale was facilitated by commercial real estate firm Berkadia.

The property is located at 3110 Grand Pavilion Dr., just north of the University of South Florida. It includes one- and two-bedroom units and amenities such as a swimming pool, fitness center and clubhouse.

“Grand Pavilion was a great opportunity to acquire a well-located community in the USF/Innovation District of Tampa with tremendous upside potential and strategic enhancements,” said Jason Stanton, senior managing director for Berkadia, in a statement.

According to the company’s website, Bridge Investment Group owns another apartment in Tampa called Carrollwood Station and an office building called Tampa Commons.