ECI Group has announced the $136 million sale of the Channel Club, a 324-unit, high rise apartment community in Tampa, FL, to Arlington, VA-based Snell Properties.
The 22-story trophy tower, anchored by a Publix Super Market (not part of the asset sale), was developed by ECI in 2019 and features one- and two-bedroom apartments averaging 911 square feet. Luxury touches include private balconies with Tampa skyline views along with stainless steel and granite finishes. A resort-style pool boasts more panoramic views of downtown Tampa and residents have access to a state-of-the-art fitness center, covered parking garage, and a business center. The Channel Club celebrates the emergence of the Channel District, a former industrial district, as an exciting and vibrant walkable location. While exiting the Channel Club, the ECI Group continues to invest in the Channel District, recently starting development on a Phase II property, the Parc Madison, with 351 apartment units, on the same block as the Channel Club and Madison Street Park.
“ECI Group is incredibly proud of the Channel Club and the execution of our development and operations plan by our team,” said ECI CEO, Seth Greenberg. “We are excited to be continuing to invest in one of the most transformational downtowns in the nation with the Parc Madison and congratulate Snell on their purchase of Channel Club, a wonderful addition to their growing Southeast portfolio.”
ECI Group extends its appreciation to Francesco Carriera of CBRE for his representation on the sale.