Dealmaker: Cushman & Wakefield Arranges $27M Multifamily Sale

(The Grove at Temple Terrace, Tampa, Fla.)

Cushman & Wakefield, Chicago, arranged $26.6 million for The Grove at Temple Terrace, a 180-unit multifamily community in Tampa, Fla.

Infinity BH acquired the property at 8741 Grove Terrace from 29th Street Capital. Nick Meoli and Mike Donaldson of Cushman & Wakefield represented the seller in the transaction.

Grove at Temple Terrace totals 198,700 square feet and offers floor plans with units that average 1,104 square feet.

“Grove at Temple Terrace is situated in the rapidly growing submarket of Temple Terrace within the Tampa metro statistical area,” said Meoli, Vice Chairman at Cushman & Wakefield. He noted significant job growth in the area, which is anchored by the Innovation Alliance District’s 74,000 jobs from 4,100 companies.

“The buyer, who has expertise in the submarket, recognized an opportunity to expand their presence in the market and take advantage of the area’s continued expansion,” said Donaldson, Vice Chairman at Cushman & Wakefield.