Eagle Property Capital and Belay Investment Group announce sale of multifamily asset in Florida
Eagle Property Capital Investments (EPC) and its partner, Belay Investment Group, have announced the disposition of Captiva Club Apartments, a 361-unit apartment community located in Tampa, Fla.
“Tampa–St. Petersburg is a highly desirable multifamily market due to strong rental demand, population and job growth, and stable apartment occupancy,” said Rodrigo Conesa, co-founder and co-principal at Eagle Property Capital. “These solid market fundamentals combined with the execution of our repositioning strategy had a positive impact on the properties’ profitability, leading to a successful disposition. These are the results we aim to achieve for our investors by providing them with exceptional risk-adjusted returns.”
EPC acquired the property in October 2016 and worked with Belay to implement a thorough repositioning strategy that substantially improved the profitability of the property. During the approximately six-year hold period, EPC and Belay invested app