November 18, 2015
BlueGate Sells Tampa Property, Madison Oaks, for $28.25 Million
BlueGate Partners, LLC (“BlueGate”) is pleased to announce the successful sale of Madison Oaks, a 250-unit garden apartment community in Palm Harbor, one of the top-performing submarkets of the dynamic Tampa Bay MSA (the “Property”). Representing the seller, Atlantic Creek Real Estate Partners, BlueGate sold the property to ESG for $28,250,000.
Madison Oaks features 250 units with a large average unit size of 1,063 square feet in well-designed floor plans, with one- or two-bedroom flats as well as two-story townhomes. With some of the largest floor plans in the submarket and its strategic location directly on Tampa Road, Madison Oaks offers competitive leasing advantages over even newer assets in the market. The property offers a highly competitive community amenity package including a clubhouse with catering kitchen, newly renovated 24-hour fitness center, off-leash dog park, resort-style heated swimming pool with large sundeck, lighted tennis courts, lighted basketball/sport court, picnic area with new barbecue grill and smoker, courtyard gazebo, valet trash pickup, car care center and gorgeous, mature landscaping with abundant oak trees.
BlueGate is a boutique real estate investment banking firm with offices in New York and Palm Beach, and offers services in the areas of investment sales, portfolio and property financing, and debt and equity capital raising for real estate projects.