TAMPA, FLA. (Sept. 24, 2013) – Tampa-based Blue Rock Partners, LLC, in partnership with Konover South, LLC, Deerfield Beach, continued its major buying spree with the acquisition of the 240-unit The Seasons apartments across East Fowler Avenue from USF in Tampa for $13,125,000, announced Randy Ferreira, CPM, Principal/Owner of Blue Rock Partners. The latest purchase, closed on September 20, represents its sixth acquisition in the past year totaling over 2,000 rental units, with Blue Rock’s Tampa Bay/Orlando portfolio now surpassing 6,000 units. Located at 11305 North 51st Street, the community will be re-branded and marketed as The Park at Rialto.
Ferreira stated that The Seasons has great value-add appeal and that the partnership will invest another $1.9 million in renovations. Neighboring USF is one of the largest universities in the nation with over 40,000 students and more than 3,000 employees, and MOSI, an interactive science museum and activity center, is located next door to The Seasons. Additionally, the community offers easy access to and from I-275. Darron Katton of Franklin Street brokered the transaction, and Bayside Ventures IV, LLC, was the seller. BankUnited was the lender.
Blue Rock Partners’ headquarters is located at 9260 Bay Plaza Boulevard, Suite 501, Tampa, Fla. 33619, phone 813-620-0800. Visit Blue Rock Partners’ website at www.bluerockpartnersllc.com. Konover South, LLC, is headquartered at 431 Fairway Drive, Deerfield Beach, Fla. Visit the company’s website at www.konoversouth.com.