Boosted residential portfolio in Tampa, Florida, with new acquisition: New units bring portfolio close to 1,000,000 sq ft
New units bring FCA’S portfolio close to 1,000,000 sq t
FCA Group (now incorporated in Elandis), the North and Central American real estate investment and property management arm of international business the Libra Group, has added to its growing property portfolio with the acquisition of 94 condominium units in the 110-unit Oaks at Granada residential development in the densely populated Tampa Bay area of Florida. The two- and three-bedroom units are situated on the Hillsborough River and within close proximity to downtown Tampa. In total, the new apartments add over 121,000 sq ft to FCA Group’s residential holdings.
The riverfront garden-style community features spacious courtyards, a clubhouse and a swimming pool. The property also benefits from ample parking spaces, patios, balconies and modern amenities. Oaks at Granada is a sought-after development, convenient for the wider attractions of the Tampa Bay area including the University of South Florida, the Westshore Business District, the Busch Gardens amusement park and the Port of Tampa. Similarly close by are the International Plaza and Westshore Plaza shopping centers.
In the last two years, FCA Group has purchased units throughout Florida such as those at Grand Pavilion, Heron Pond and Crescent Cove, and its total real estate portfolio is now approaching the 1,000,000 sq ft mark. The new rental units will be managed by FCA Property Management, the company’s own property management division which operates throughout North America.
“This acquisition once more demonstrates FCA Group's execution track-record. Further, Oaks at Granada adds more scale to our growing condominium portfolio across Florida,” says Frank Espinosa, CEO of FCA Group. “We will take full control of the Board of Directors of the homeowners’ association, and look forward to supporting the tenants in this very sought-after property. All our properties have the advantage of being managed by our own property management arm, which assures the highest standards of service and cost-efficiency. ”