Contact Info
Location
The Asset
Home
Doc Center
Privacy
Terms of Use
608 N Willow Ave | Tampa, FL 33606
The Opportunity
Berkadia is pleased to present the opportunity to acquire Jade at North Hyde Park (the “Property”), a newly constructed, 192-unit, 5-story multihousing community located within the trendy neighborhood of North Hyde Park in Tampa, Florida. Through the acquisition of this core-quality asset, investors can participate in Tampa Bay’s explosive growth while benefiting from the dynamics that have made North Hyde Park one of Tampa’s hottest neighborhoods.
Jade at North Hyde Park provides an upscale living experience with an attractive urban design aesthetic, luxuriously appointed apartments, and a wide range of amenities. The Property also includes 3,200 square feet of retail space fronting Cass and Willow Streets that has received high levels of interest and is perfect for a local eatery or other urban amenity.
Situated between Tampa’s vibrant Central Business District and Hyde Park, home to some of Tampa’s most expensive homes, best schools, and popular amenities, North Hyde Park is experiencing a rapid transformation as old warehouses and houses make way for an influx of new single-family homes, townhomes, apartments and retail. As Tampa’s economy continues to expand, Jade at North Hyde Park is well-positioned to enjoy strong demand and above average rent growth.
Quick Stats
2022
Built
192
Units
Investment Highlights
PROPERTY INFO
192
2022
5-Story Wrap
797 SF
152,997 SF
5
Slab
Units
Year Built
Product Type
Avg. Unit Size
Total Rentable Area
Stories
Foundation
Wood Frame
Construction
The Location
Neighborhood Stats
Neighborhood Shopping
NEIGHBORHOOD CONVENIENCES
PRIMARY EDUCATION
Demand Driver
Thornton, CO
AMBER CREEK
Demand Driver
North Suburban Medical Center
From the Property
JOBS Supported
8.8mi
850
Hospital Beds
157
Maxar Technologies Inc. - Corporate Office
From the Property
JOBS Supported
7.3mi
1.3k
SF Occupied
377k
From the Property
JOBS SUPPORTED
5.8mi
1.2k
HOSPITAL BEDS
Centura - St. Anthony North Hospital
100
Thornton, CO
AMBER CREEK
Primary Education
JOBS SUPPORTED
1.9k
Schools and Centers
28
STUDENTS Served
19.2k
West Ridge ES | Quist MS | Riverdale Ridge HS
Thornton, CO
AMBER CREEK
Neighborhood
CONVENIENCES
Tempe, AZ
Within a two-mile drive of the property
Thornton, CO
AMBER CREEK
Neighborhood Shopping
Stores and Restaurants
80
SF Shopping Destination
328k
From the Property
5.0mi
Banana Republic | COACH | LOFT | Nike | Michael Kors
Thornton, CO
AMBER CREEK
Neighborhood Quick Facts
City Unemployment Rate (*Preliminary for August 2022)
3.4%*
Median Household Income
(Within Three Miles)
$105.4k
Renter Occupied Housing Units
(Within Three Miles)
18%
Population
(Within Three Miles)
63.3k
Median Housing Unit Value (Within Three Miles)
$596.7k
797
Avg SF
GALLERY 1/2
Photo GALLERY
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Tyler swidler
Associate Director
321.319.1415
tyler.swidler
Patrick Coley
Senior Financial Analyst
407-481-2187
patrick.coley@berkadia.com
Mortgage Bankers:
Matt Mitchell
Senior Managing Director
813.217.3419
matt.mitchell@berkadia.com
Jason stanton
Senior Managing Director
727.244.3329
jason.stanton@berkadia.com
Brett moss
Managing Director
321.319.1414
brett.moss@berkadia.com
Investment Advisors:
CONTACT Info
BACK TO TOP
TAMPA Office
4890 West Kennedy Boulevard
Suite 940
Tampa, FL 33609
P. 813.675.0469
Home
The Asset
LOCATION
DOC CENTER
Terms of Use
Privacy
Contact Info
GALLERY 1/6
Photo GALLERY
$2,603 / $3.27 PSF
Market Rent
Wade Sarchet
Financial Analyst
813.675.0465
wade.sarchet@berkadia.com
The Location
5-Story
Wrap
GALLERY 2/2
North Hyde Park has set itself apart as Tampa’s most up & coming, trendy neighborhood. In recent years, the area has welcomed locally-grown coffee shops, boutique shopping, chef-driven restaurants, fitness concepts and alternative office space to serve North Hyde Park’s growing, affluent population.
North Hyde Park: Authentically “Cool” Neighborhood with Growing Base of Amenities
Located at the nexus of the Downtown Tampa, Westshore, and South Tampa, North Hyde Park is uniquely positioned to offer prospective renters quick access to the metro’s primary office employment nodes. Residents are walking distance to downtown Tampa while the office markets of Westshore, Brandon, and Gateway are all within a 20-minute drive of the Property.
Central to Tampa’s Primary Employment Centers
Jade is located a 5-minute walk to the University of Tampa. While current ownership has elected to minimize the number of students allowed to lease at the Property, Jade is ideally positioned to be the address of choice for staff and graduate-level students. With a student population of approximately 10,500, UT has recently added numerous academic, arts and athletic facilities on campus utilizing all remaining developable land.
Closest Apartment Community to University of Tampa
North Hyde Park and the surrounding neighborhoods are very infill and large sites are extremely scarce. Due to most developable sites in North Hyde Park being too small for apartment development, a majority of current and future construction is expected to be for-sale townhomes and single-family homes.
Infill Location with High Barriers to Entry
The city of Tampa recently completed construction of Julian B. Lane Riverfront Park and the Green Spine, two major public investment projects which will serve a catalyst for future growth in North Hyde Park. Julian B. Lane, which is six blocks from Jade, offers a full calendar of events including some of Tampa’s largest celebrations such as the NFL’s Super Bowl Village and numerous concerts. The Green Spine is an urban commuter bike trail which runs by the front of the Property.
Significant Investments in Public Infrastructure
Located just four blocks south of Jade, Tampa General Hospital is under construction on its newest expansion project. The 9.6-acre campus will house a multitude of components including a 15,000 square-foot freestanding emergency department and 59-bed rehabilitation center. The project is part of the hospital’s recently announced $550 million master facility expansion plan. Initial delivery for the 1307 Kennedy Blvd site was completed in 2022, while the two undeveloped parcels remain in planning.
New Tampa General Hospital Campus Under Construction
Residents enjoy world-class, resort-style amenities with luxury apartment home finishes and floor plans. Unit interiors come fully equipped with stainless-steel appliances, quartz countertops & undermount sinks, wood-like plank flooring, smart home systems, and built-in wine storage and dual-head showers in select homes. Premier community amenities include a resort-style pool surrounded by cabanas and grilling stations, independent co-working space, fitness center, an outdoor yoga lawn, bike storage, pet spa, and smart home technology that allows residents to gain access into the building and units via their smart phones.
Distinguished Features & Amenities
Wade Sarchet
Financial Analyst
813.675.0465
wade.sarchet@berkadia.com
GALLERY 1/6
BAILEY SMITH
Associate
813.675.0121
bailey.smith@berkadia.com
