November 10, 2020
Privately-held, California-based commercial real estate firm Passco Cos. has acquired Tapestry Cypress Creek, a 341-unit apartment community in Tampa’s East Pasco County submarket. The sales price was $76.4 million.
Tapestry Cypress Creek is located at 2300 Tapestry Park Drive in Land O’ Lakes, FL. Community amenities at the garden-style property include a resort-style saltwater pool, clubhouse with a coffee bar, a 24-hour fitness studio, a spin studio, a resident club room with a sports lounge, a bocce ball court, a pet park, and outdoor barbeques with a dining terrace.
Patrick Dufour, Ryan Crowley, Andrew Visnick, and Pibu Aulakh of Newmark represented the seller, Arlington Properties, in the transaction. Additionally, Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing on behalf of Passco Cos.
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