Preferred Apartment Communities acquires 218-unit multifamily community in Tampa, Fla.

Preferred Apartment Communities has acquired 5 Oaks at Westchase, a newly constructed 218-unit Class A multifamily community in Tampa, Florida.  Built in 2019, 5 Oaks at Westchase is located in the highly desirable Westchase submarket of Tampa, Fla., a 2,000-acre master-planned community located in the northwest region of Tampa.

Jeff Sherman, Preferred Apartment Communities executive vice president and managing director of Multifamily said, "5 Oaks is another best-in-class investment opportunity.  The property is surrounded by affluent demographics, zoned for top-rated schools and is walkable to retail and restaurants including Costco and Starbucks."

Sherman added, "This is our second acquisition from Flournoy Development, a premier multifamily developer located in Columbus GA, and we look forward to a long working relationship."