TAMPA, FLA. — A joint venture between TruAmerica Multifamily and RSE Capital Partners has purchased a two-property, 454-unit apartment portfolio in Tampa for $63.8 million. The portfolio includes Twin Lakes and Runaway Bay, which were both built in the 1980s. Each community offers one- and two-bedroom floor plans situated in two-story residential buildings. The new owners plan to upgrade the interiors with higher end finishes. Plans also call for select exterior and common area upgrades that include new signage and paint, landscaping, a new outdoor kitchen and refreshing of the clubhouse, fitness center and pool areas. Patrick Dufour and Ryan Crowley of Newmark Knight Frank (NKF) represented the undisclosed seller in the transaction. Mitch Clarfield and Ryan Greer of NKF arranged a 10-year Freddie Mac acquisition loan on behalf of the buyers.
Twin Lakes (pictured) and Runaway Bay both offer one- and two-bedroom floor plans situated in two-story residential buildings.
TruAmerica, RSE Capital Purchase 454-Unit Apartment Portfolio in Tampa for $63.8M
122