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JLL Closes Sale of 190-Unit Build-to-Rent Development in Tampa
JLL Capital Markets announced that it closed on the sale of GroveParc Townhomes located in Wesley Chapel, Florida. The 48.08-acre development is approved for a 190-unit townhome community.
JLL worked on behalf of the seller, Blue Pointe Builders, an investment group out of South Florida. Resibuilt acquired the asset.
“GroveParc Townhomes is one of the most exciting build-to-rent projects in Florida,” said Max La Cava, Senior Director of JLL. “It is perfectly positioned to capitalize on the influx of high-paying jobs to Wesley Chapel and offer future residents the best of both worlds – an upscale single-family rental living experience within a 48-acre nature-driven community, located adjacent to the action-packed heart of Wesley Chapel.”
Wesley Chapel has experienced substantial population and economic growth over the last decade. The new development is located near 1-75 with access to Downtown Tampa, the Westshore Business & Entertainment district, and Tampa International Airport.
In addition to La Cava, the JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Zach Nolan and Executive Managing Director Manny de Zarraga.
- ◦Development
