Tuesday, March 5, 2019

29th Street Capital Expands Tampa Bay Area Portfolio; Acquires The Park at Avilla and The Park at Pienza Apartments in Brandon, FL

The Park at Avilla Apartments, Brandon, FL
Brandon, FL – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired The Park at Avilla and The Park at Pienza Apartments, a two property, 200-unit multifamily portfolio in Brandon, Florida.

29SC plans to make cosmetic improvements to unit interiors, including adding high-quality laminate countertops, vinyl plank flooring, modern paint schemes and stainless steel appliances.

The firm also plans value-creating improvements to the clubhouse, fitness center, grilling area, roofing, exterior staircases, landscaping and more. It will also implement plans to catch up on overdue maintenance issues.

The Tampa Bay area is experiencing strong population and employment growth. The average working age population growth in Tampa over the last two years is almost twice the national average.

The Park at Pienza Apartments, Brandon, FL

“29SC feels that the strong market fundamentals in the Tampa Bay area will continue for the foreseeable future and help drive renter demand,” said Ryan Smyth, Vice President of Acquisitions for Florida.

“The properties have easy access to several employment hubs in the Tampa Bay area as well as retail centers,” Smyth added. “Plus, more than 50 million square feet of office space, which is continuously growing, is within a 30 minute drive.”

The communities, which are two miles apart, are within 20 miles of downtown Tampa. Each has several restaurants and shopping centers nearby.

Ryan Smyth

The Park at Pienza is close to daily conveniences such as a Publix Super Market, Office Depot, PetSmart and several banks. The Park at Avilla is close to the J.C. Handly Sports Complex, Paul Sanders Park and Kings Row Shopping Center, which features an Xtreme Fit, post office and salon.

29th Street Capital closed on the purchase of the portfolio February 28. The sale price was not disclosed.
Learn more about 29SC at https://29thstreetcapital.com.-- 


Terri Thornton
Partner, Thornton Communications
Phone: 404-932-4347
Email: Terri@TerriThornton.com 
Website: www.TerriThornton.com 

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