‘Grand Pavilion’ Tampa, sold
FCA Group (now incorporated in Elandis), the North and Central American real estate investment and property management arm of the Libra Group, has sold 212 residential apartments at ‘Grand Pavilion’, the 163,000 sq ft multifamily community development in Tampa, Florida.
Following the advantageous transaction, FCA Group, which has owned and operated over 1,500 multifamily units in the area in the last five years, is embarking on a comprehensive investment programme to add more properties to its wide portfolio.
“Grand Pavilion was acquired in 2011 and we worked together with tenants and homeowners to further enhance the living experience through upgrades and improvements to the estate,” said Frank Espinosa, CEO of FCA Group.
“The stabilization process began by ensuring a safe environment, with responsible tenants and then we upgraded the exterior and interiors of each condominium,” added Frank Espinosa.