Tampa, Florida
Slade at Channelside
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Transaction Details
1190 E Washington St.
Tampa, FL 33602
285,167 Sq. Ft.
PROPERTY TYPE
307 Unit Urban Condominium
Investment Highlights
- Acquired 225 out of a total 307 units in a bulk acquisition from affiliates of Crescent Heights
- Attractive going-in cost basis of $177,777 per unit
- Completed unit buyouts from private owners
- Executed successful collapse of the condominium association under Chapter 718 of the Florida Statutes
- Cardinal Point leadership served on the condominium association Board of Directors throughout the investment period
- Oversaw extensive renovation to the common areas of the property
- Cardinal Point oversaw all asset management for the rental operations and all brokerage services for the unit buyouts
- Sold to UDR in January 2020 following the collapse of the condominium association under Chapter 718 of the Florida Statutes