Tampa multi-family community owner Robbins/Elco Management acquires four properties, bringing total to over 14,000 units
In conjunction with their equity partners, Robbins/Elco Management specializes in purchasing, renovating and managing quality real estate in desirable and growing markets to provide highly sought after apartment homes.
Tampa, FL January, 2016 - Robbins/Elco Management (REM) announces the purchase of four apartment communities, bringing their total number of communities under ownership and management to 48, with over 14,000 total units.
Victoria at Orange Park (formerly Waterford at Orange Park), a 280 unit community in Jacksonville, Florida, built in 1986. The property was acquired in September, 2015, and features one and two bedroom apartment homes. Plans for full interior and exterior renovations are underway.
The Preserve at Tampa Palms (formerly Vista Grand) a 378 unit community in Tampa, Florida, built in 2002. The property was acquired in July, 2015, and features one, two and three bedroom apartment homes. Full interior and exterior renovations are in progress.
Canopy Apartment Villas, a 296 unit community in Orlando, Florida, built in 1981. The property was acquired in June, 2015, and features a number of attractive amenities including all first floor walk-up access and nicely landscaped courtyards. Exterior renovations and enhancements of amenities are currently underway.
Parkway Grande (formerly Parkway Falls), a 192 unit community in San Marco, Texas, built in 2014. The property was acquired in September, 2015, and features newly construction one, two and three bedroom apartment homes within walking distance Central Texas Medical Center.
Robbins/Elco Management remodels or adds enhancements to all new properties to meet the demands of upscale apartment residents in their communities. High end features and amenities such as fully renovated kitchens with new appliances, upgraded lighting and plumbing fixtures, USB outlets, plank flooring, outdoor summer kitchens and fire pits at the resort style pool areas, spacious community clubhouses with state of the art fitness centers and dog parks help keep occupancy rates high and outstanding resident satisfaction.
Kristi King, REMs Chief Operating Officer, said, "We are fortunate to partner with ELRH and to add additional assets with considerable upside potential to our growing portfolio of high-quality properties. The acquisition of these four communities increases our presence in Florida and Texas and aligns with our strategy of purchasing well located multifamily assets in growing markets at an advantageous price and considerable discount when compared to replacement cost."