Snell Properties has acquired Channel Club Apartments in downtown Tampa, Florida. Seller ECI Group has announced the sale of $ 136 million of the 22-story, 324-unit apartment community, which is anchored by a Publix supermarket.
Channel Club Apartment Tower was developed by ECI in 2019. The multi-family community consists of one and two bedroom apartments averaging 911 square feet. Features and finishes include private balconies with skyline views, granite countertops, and in-unit washers and dryers. A multimedia-cinema center is one of the establishment’s most upscale facilities.
“Sales of this magnitude don’t automatically go smoothly,” said Scott J. Levitt, director of acquisitions at ECI Group. Multi-dwelling news. “It takes a lot of planning, effort and focus on the part of everyone involved. It was an incredible team effort that made for a very smooth and on-time sale.
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Channel Club is one of the recent additions to the Channel District of downtown Tampa, a once industrial area along the Hillsborough River that is now a bustling, pedestrian-friendly enclave. Although ECI Group sold the Channel Club Apartment Tower, the company continued to invest in the future of the Channel District. ECI Group recently launched the development of Phase II of Madison Park. The 351-unit multi-family building is on the same block as the Channel Club and Madison Street Park.
The very passable walking and cycling neighborhood has walking and cycling scores of 79 and 65 respectively. The surrounding area also offers many accessible public transportation options. The property is close to the University of Tampa, the Tampa Convention Center, the Amalie Arena, the Tampa Bay History Center and the Florida Aquarium. A recent report revealed that the Tampa Bay metro area is set for another record year.