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Florida & Gulf Coast  + Apartments  | 

Passco Acquires Metro Tampa Apartment Property for $76M

Privately-held, California-based commercial real estate firm Passco Cos. has acquired Tapestry Cypress Creek, a 341-unit apartment community in Tampa’s East Pasco County submarket. The sales price was $76.4 million.

Tapestry Cypress Creek is located at 2300 Tapestry Park Drive in Land O’ Lakes, FL. Community amenities at the garden-style property include a resort-style saltwater pool, clubhouse with a coffee bar, a 24-hour fitness studio, a spin studio, a resident club room with a sports lounge, a bocce ball court, a pet park, and outdoor barbeques with a dining terrace.

Patrick Dufour, Ryan Crowley, Andrew Visnick, and Pibu Aulakh of Newmark represented the seller, Arlington Properties, in the transaction. Additionally, Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing on behalf of Passco Cos.

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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.

  • ◦Sale/Acquisition