Press Release

CBRE Facilitates the $23.1 Million Sale of The Palms at Palisades in Tampa’s Brandon submarket

2022 1월 04

CBRE has arranged the sale of The Palms at Palisades, a 125-unit multifamily property in Brandon, Fla., for $23.1 million.

Michael Regan, Francesco Carriera, and Cameron Barbas with CBRE Capital Markets in Tampa represented both the buyer, ZMR Capital LLC, and seller, a global real estate private equity firm.

Built in 1981, The Palms at Palisades is a 15-building garden-style multifamily community located at 512 Camino Real Court. The property features a mix of one-, two-, and three-bedroom units averaging 845 square feet. Community amenities include a community clubhouse, business center, children’s play area, swimming pool with sundeck, picnic areas with grills, tennis court and dog park.

“While Asia Capital Real Estate Management had renovated 52 units and improved the property’s exterior and amenities, the buyer can execute a value-add strategy to unit interiors for sizeable rental increases while capitalizing on the strong growth projections associated with Tampa Bay’s premier suburb,” said Mr. Regan.

He added, “Brandon continues to be the favorable suburb option for employees of the expanding Downtown Tampa core. We fielded more than 15 qualified offers, signaling the continued demand for 1980s value-add assets in markets with strong fundamentals.”

The Palms at Palisades provides residents direct access to Downtown Tampa along Selmon Expressway and is located 10 minutes from Brandon Regional Hospital.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.