Preferred Apartment Communities Acquires 392-Unit Multifamily Community in Metro Tampa

WESLEY CHAPEL, FLA. — Preferred Apartment Communities (PAC) has acquired Altis Wiregrass Ranch, a 392-unit multifamily community in Wesley Chapel. The seller and developer, The Altman Cos., delivered the property in 2018. PAC acquired the property after making an investment in the construction loan for the property two years ago. The sales price was not disclosed, but the Atlanta-based REIT said it purchased the asset in all cash. Altis Wiregrass Ranch is situated within Wiregrass Ranch, a master-planned, mixed-use community spanning 5,000 acres. The apartment community is located at 28878 Golden Vista Blvd., 22 miles north of downtown Tampa. Communal amenities include a fitness center, pool and package services.