Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CRC Pays $82M for Tampa Apartments
Continental Realty Corporation (CRC) acquired Henley Tampa Palms for $82 million. Located at 15350 Amberly Drive near Tampa, the 315-unit, two-story apartment community was 94 percent leased at the time of the transaction. Berkadia Florida Investment Sales represented the seller, 29th Street Capital, in this transaction.
This is the initial asset purchased on behalf of the Value-Add Multifamily Fund I, LP (VAMF I), a closed-end private equity fund sponsored by CRC. The fund focuses on acquiring value-add opportunities in high-growth markets in the Southeast.
In addition to the Henley Tampa Palms, the company bought the Grand Reserve at Tampa Palms, a 390-unit multifamily community situated three miles away.
Situated within Tampa Palms, a 4,100-acre master-planned community with 28 residential villages. Henley Tampa Palms is comprised of 53 two-story garden-style apartment buildings featuring one-, two- and three-bedroom floorplans ranging from 941 to 1,671 square feet of space.
Don’t miss Connect Southeast Multifamily this Thursday, December 5th, in Key Biscayne, FL! Multifamily’s leaders from Lument, TruAmerica Multifamily, Transwestern, CoStar Group, Trimont, Berkadia, RCKRBX, Wells Fargo, and more will be speaking and the most active dealmakers and decision makers will be in attendance. Be there in-person to learn what the industry’s experts forecast 2025 will bring to dealmaking, development, management, investment, financing, and more throughout the Southeast states! www.ConnectSEMF2024.com
