West Shore Acquires Significant Multifamily Asset In Tampa, Florida
Grande Oasis at Carrollwood marks largest acquisition for real estate investment firm
Dec 02, 2019, 15:08 ET
BOSTON, Dec. 2, 2019 /PRNewswire/ -- West Shore LLC today announced it completed the acquisition of a premier 883-unit residential community in Tampa, Florida, the company's largest single transaction in its three-year history.
Grande Oasis at Carrollwood is a well-located top-tier asset, offering residents a variety of amenities on a sprawling, 58 acre site. The transaction marks West Shore's 26th acquisition nationwide and its 12th in Florida.
West Shore Chairman Steven P. Rosenthal describes Grande Oasis as an ideal high caliber multifamily asset the company sought for its growing portfolio, with an expected high return on investment. "Grande Oasis is truly a premier property with a superb location, high end amenities, and a solid job market," said Rosenthal. "This deal demonstrates our ongoing success and portfolio growth over the last three years as we continue to identify and acquire high quality properties like Grande Oasis in thriving areas."
Grande Oasis is centrally located in Tampa's Carrollwood section, within close proximity to Tampa's many demand drivers, amenities, and attractions including the Westshore Business District, Tampa Riverwalk, Raymond James Stadium, University of Tampa, ZooTampa, Busch Gardens, University of South Florida, and St. Joseph's Hospital.
"Grande Oasis is a major addition to our portfolio," said Lee Rosenthal, West Shore President. "We now own and operate 12 Florida properties and we see tremendous opportunity for continued growth in all of our Florida markets. Grande Oasis is a top-tier property in a solid market and we are especially pleased to be adding scale in the Tampa area – one of the country's fastest growing metropolitan areas in terms of job and population growth."
Palm trees surround the private, gated, pet-friendly, lakeside community, which was built in 1991 and renovated in 2006. Residents also have easy access to public transportation from the property. The community offers residents spacious studio, one, two, and three bedroom floor plans, designed to be customized to meet their every need. Individual units feature fully-renovated kitchens with granite countertops; upgraded plank flooring and carpeting; spacious walk-in closets; ample storage space; high ceilings; fireplaces; beautiful views of the lake, pools, and nature; high-end appliances and screened-in balconies or patios in select units. Community amenities include an activity center; three resort-style pools with spa and sundeck; new, upgraded fitness center complete with cardio room and equipment; and three lighted tennis courts. Car garages and storage units, valet trash service, car care and wash station, bike racks, 24-hour clothes care center, and on-site maintenance and management are available. The property also boasts several outdoor living enhancements including a seven-acre lake with beautiful views and two fishing docks; tranquility garden and urban vegetable garden; nature preserve with one mile walking trail; brand new playground; and picnic areas complete with barbecue grills.
West Shore owns and manages 11 additional Florida properties: Deerwood Village in Ocala; Legacy at Fort Clarke in Gainesville; Belvedere at Quail Run in Naples; The District at Clearwater in Clearwater; Savannahs at James Landing in Melbourne; Grand Oaks Apartments in Riverview; The Point at Naples in Naples; Veridian Townhomes in Melbourne; 2305 at Killearn in Tallahassee; Live Oaks at Killearn in Tallahassee; and The Greens at Old Saint Augustine in Tallahassee.
The leasing office is now open at 3516 Grand Cayman Drive, Tampa, FL 33614, Mondays through Fridays from 9:00 a.m. to 6:00 p.m., Saturdays from 10:00 a.m. to 5:00 p.m. and Sundays from 1:00 p.m. to 5:00 p.m. For more information, please visit https://www.grandeoasis.com/.
ABOUT WEST SHORE LLC
West Shore LLC is a fully integrated real estate investment firm with a specific focus on the acquisition and management of multifamily assets. It is a dynamic, fast-growing company that blends an entrepreneurial approach to real estate with institutional investment discipline. Its principals are experienced management and real estate private equity executives. Boston-based West Shore was founded in 2016 and owns and operates a diverse portfolio of 25 multifamily properties totaling 7,756 units with a total market value of more than $1 billion. For more information about West Shore LLC, visit the company's website at www.west-shore.com.
SOURCE West Shore LLC
