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JV sells Tampa, Fla., multifamily asset for $57M

Michaelson Group LLC and Moncler Capital Partners LLC sold a 484-unit residential community in Tampa, Fla., to Royal Imperial Group for $56.7 million, Multi-Housing News reported, citing public records.

The class B Moncler Isles, which was renamed Atwater at Westchase, comprises 30 two-story buildings, with amenities such as two swimming pools, a fitness center, tennis courts and a car wash. Occupancy at the 6158 Beacon Isles Drive property was 92.4% as of October, the report added, citing Yardi Matrix data.

Royal Imperial Group will refurbish the apartment interiors and add amenities including a business center and a dog park.