Silverstein Properties has purchased a 34,000-square-foot site in Tampa, Fla. The financial terms were not disclosed.
The property was acquired by Silverstein and Cantor Fitzgerald, L.P. through their Cantor Silverstein Opportunity Zone Trust, Inc. (CSOZ Trust), a qualified opportunity fund.
The seller is affiliates of 1754 Properties, LLC, an institutional owner, operator and lender of hotels and other real estate based in Weston, Fla., and its partner at Triangle Capital Group.
Located at 505 East Tyler Street in downtown Tampa, the three-quarter-acre site is intended to be developed into a residential tower with approximately 770,000 square feet, including 430 residential rental apartments, about 15,000 square feet of retail and a 600-space parking garage. Silverstein will serve as the lead developer for the project.
“With this latest acquisition and planned development, we are continuing to extend our acquisitions and development reach around the co
