FCA Group has purchased Bay Pointe Colony, a multifamily property in Tampa. Located near the University of South Florida, the 260-unit apartment community sits on a 16 acre site. FCA plans to renovate the apartments, upgrade common areas and restore a park on the property. Terms of the acquisition were not disclosed. FCA has acquired more than 1,500 apartments in the Tampa area over the past five years.
“Our mission is to improve living conditions for low- to middle-income communities in the region and, in turn, reduce tenant turnover and enhance the environment,” said Frank Espinosa, chief executive officer of FCA. “The development will undergo significant renovation including the total rebuild and upgrade of 25 currently occupied units.”
