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Florida & Gulf Coast  + Apartments  |  July 8, 2019
David Cohen
By: David Cohen

JV Acquires 454-Unit Tampa MF Portfolio for $63M

TruAmerica Multifamily and RSE Capital Partners have acquired a 454-unit multifamily portfolio in Tampa for $63.7 million as part of a joint venture. The acquisition is the first joint venture between TruAmerica and Washington D.C.-based RSE Capital Partners, and increases TruAmerica’s Florida portfolio to nearly 5,000 units.

The properties included in the sale are Twin Lakes and Runway Bay, two 1980s garden-style multifamily communities located along U.S. Highway 19. Both communities feature a mix of one and two-bedroom floor plans. TruAmerica and RSE have announced plans to institute significant capital improvements across the portfolio.

Patrick Dufour and Ryan Crowley of NKF represented the seller, who was undisclosed, in the transaction.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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