Elandis sells Tampa rentals for over $65,359 each

The company got more than $20 million for two apartment properties it acquired in 2011

TRD MIAMI /
Jul.July 31, 2016 12:30 PM

Elandis sold two apartment properties in Tampa for more than $20 million or $65,359 per unit.

The two properties, called Grand Pavilion and Oaks at Granada, span 284,250 square feet and have a total of 306 apartments.

Elandis acquired both Grand Pavilion and Oaks at Granada in 2011 and sold them after significant property upgrades.

“We acquired Grand Pavilion and Oaks at Granada during a market low. We worked together with tenants to enhance the living experience through upgrades and improvements to the estate, and re-positioning for full occupancy rates,” Frank Espinosa, CEO of Elandis, said in a written statement.

Elandis, formerly known as FCA Group, is an arm of an international company called Libra Group and operates as Libra’s North American and Latin American arm for real estate investment and property management. Elandis has offices in Coral Gables, Buenos Aires, São Paulo, Panama City, Panama; and Madrid, Spain.

Elandis owns almost 2,500 residential units , 25 hotels and 10 ongoing real estate developments in six countries.


Related Articles

arrow_forward_ios
Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)

Dezer’s 30-acre megaproject in North Miami Beach gets first approval

Dezer’s 30-acre megaproject in North Miami Beach gets first approval
Jeff Burns, Nick Rojo, The Bohemian Lake Worth

Affiliated Development’s Lake Worth Beach apartment project approved

Affiliated Development’s Lake Worth Beach apartment project approved
A rendering of the Intracoastal Mall and Gil Dezer

Dezer’s plans to remake Intracoastal Mall face opposition

Dezer’s plans to remake Intracoastal Mall face opposition
Alta Developers CEO Raimundo Onetto and Le Parc at Brickell rendering

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects

Le Parc at Brickell condo association sues Alta Developers and partner for alleged construction defects
Biscayne Beach

Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work

Lawsuit accuses Biscayne Beach developer and construction firms of shoddy work
AHS Residential Ernesto Lopes and AHS Residential Tamiami (Credit: AHS)

AHS Residential scores $33M construction loan for Kendall apartment complex

AHS Residential scores $33M construction loan for Kendall apartment complex
AHS Residential’s Ernesto Lopes (Credit: D Ramey Logan/Wikipedia)

AHS Residential scores $34M loan for apartment project near West Palm

AHS Residential scores $34M loan for apartment project near West Palm
Quadro at Design District and Rainmundo Onetto

Alta Developers launches sales of Quadro at Design District

Alta Developers launches sales of Quadro at Design District
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...