Tampa-Area Apartments Trade for $62.7M

StoneBridge Investments has purchased Luxe at 1820, a 300-unit apartment complex in Brandon, Florida. Brandon is a suburb of Tampa. Electra America sold the asset for $62.7 million. Commercial Edge reports Walker & Dunlop issued a $54.6 million acquisition loan scheduled to mature in January 2031. The new owner plans to modernize units and refresh amenities.

Luxe at 1820 previously traded in 2019, when Electra America bought it from Cortland for $53.7 million.

The community was delivered in 2009 at 1820 Crosstown Club Place on a 17-acre site. Luxe at 1820 features 18 two- and three-story buildings, enclosing 128 one-bedroom, 148 two-bedroom, and 24 three-bedroom floor plans. Units range from 780 to 1,372 square feet and comprise private balconies or patios.

Common-area amenities include a fitness center, business center, clubhouse, swimming pool with beach entry, spa and grade-level parking with more than 600 spots.

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