Madison Place Apartments – Sold 2016Administrator2017-11-20T12:42:13-05:00
Madison Place, formerly known as MacArthur Park, is a 456-unit apartment community located on 20-acres in Clearwater, FL. Residents benefit from numerous shopping and entertainment centers located within blocks of the property, which include retailers Babies ‘R’ Us, Best Buy, and Marshalls, as well as the 1.2 million square foot Westfield Countryside Mall. The property is less than one-quarter mile east of US-19 a major north-south thoroughfare serving the Pinellas County area. In addition, the property is less than one mile north of State Road 60, which provides convenient access to downtown Tampa and St. Petersburg.
Following the implementation of a successful capital improvement plan and repositioning, a competitive marketing process and strong demand for institutional apartments led to eight competitive offers. The asset was sold in January 2015.