Tampa Apartments Sell at a Loss

Tampa Apartments Sell at a Loss
News| May 2, 2025| Mike Boyd
Florida & Gulf Coast + Apartment Buildings

Momentum Real Estate Partners picked up Amelia at Westshore in Tampa for a second time. The company paid $73 million for the property at 6608 S. Westshore Blvd. The Tampa Bay Business Journal reports the seller, Rockwell Property, paid $90 million for the apartment complex in 2022. Rockwell had secured a $73 million mortgage for that acquisition. Momentum sold it to Lurin Real Estate Holdings for $67.5 million in 2021. Lurin then sold the property to Rockwell in 2022.

The apartment community has 246 units, with an average of 620-1,400 square feet per unit. Rents range from $1,900 to $3,300 a month.

Founded in 2009, Momentum has acquired 20 properties for a transactional value of $1.4 billion.

Rockwell currently has projects in five states and is looking at five more states.

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