October 3, 2019
Preferred Apartment Communities (PAC) has acquired 5 Oaks at Westchase, a newly-constructed 218-unit multifamily community in Tampa. The sales price was not disclosed.
Built in 2019, the community is located in the Westchase submarket, a 2,000-acre master-planned community in the northwest region of Tampa. The community features screened-in porches, quartz counters, stainless appliances and resort style amenities. PAC purchased the property in all cash from multifamily developer Flournoy Development.
“5 Oaks is a best-in-class investment opportunity,” said Jeff Sherman, executive vice president at PAC. “The property is surrounded by affluent demographics, zoned for top-rated schools, and is walkable to retail and restaurants including Costco and Starbucks.”
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