Inland Real Estate Acquisitions has closed the purchase of Laurel Oaks Apartments, a 192-unit multifamily property located in Tampa, Fla. A sales price was not disclosed.
The property consists of 24 two-story buildings with 20 one-bedroom, 152 two-bedroom and 20 three-bedroom units.
“Laurel Oaks Apartments was an attractive acquisition opportunity because of the need it fills for the community of more than 162,000 residents within a five-mile radius,” said Matthew Tice, senior vice president of Inland Real Estate Acquisitions. “Offering modest rental rates compared to the surrounding apartment communities, the property’s value-add upgrades and sought-after community amenities offer an affordable workforce housing solution for the variety of employees in the area. Located on the northeast side of Tampa, Laurel Oaks Apartments is situated in a nice community approximately 10 minutes from the University of South Florida, Florida Hospital, Moffitt Cancer Center and Seminole Hard Rock Hotel & Casino.”
As of Aug. 6, 2018, the property was 95 percent occupied.
