GTIS Partners has closed on River Landing, a 72-acre site that will be developed into an approximately 260-unit build-to-rent (BTR) community. The project, located in the Tampa Metropolitan Statistical Area (MSA), will be developed in house by GTIS and has an estimated budget of approximately $68 million.
The site is located in the Wesley Chapel submarket of Pasco County, a 30-minute drive from downtown Tampa. The site has excellent connectivity with access to State Road 56, making it an attractive option for commuters. The surrounding area’s amenities include retail and restaurants at the Shoppes of New Tampa.
“Tampa has excellent fundamentals for residential investing as the population and economy continue to expand. As Hillsborough County becomes increasingly built-out, we believe Pasco County is poised to be the primary beneficiary of Tampa's future growth, making River Landing an attractive area for investment,” said Bill Mumford, a senior director at GTIS.
