Seneca at Cypress Creek, a multifamily community in the Lutz/Wesley Chapel submarket of Tampa, FL has been sold for an undisclosed price to Lantower Residential. The 28 three-story, 451 unit property features units of between 645 to 1,611 square feet and up to three rooms. Built by Greystar Real Estate Partners, the property last changed hands in 2012, when UBS Realty Investors purchased the community from Greystar for $62.5 million. With this acquisition, Lantower Residential now has a portfolio consisting of 14 multifamily properties totaling 4,600 residential units.
“The acquisition of Seneca at Cypress Creek enables Lantower Residential to expand its current Tampa position with a large Class A institutional-quality asset in one of the strongest submarkets in Tampa,” said Philippe Lapointe, chief operating officer for Lantower Residential. “Outstanding public schools, combined with the growth of the Lutz/Wesley Chapel submarket and quick interstate access, makes Seneca at Cypress Creek a great addition to our Florida portfolio.”
