TAMPA,
Fla., July 29, 2024 /PRNewswire/ -- Argyle Real
Estate Partners LLC (Argyle), a real estate investment firm focused
on multifamily acquisitions in the Southeast and Texas, together with Sembler Investments Real
Estate Partners (SIREP), whose strategic partnership began in 2022,
today announced the acquisition of Sage at Cypress Cay, a 324-unit,
core-plus, community and Lantana
at Cypress Cay, the neighboring, core-plus, 252-unit community
centrally located in Lutz, FL a
suburb of Tampa; adding 576 units
to their growing portfolio and establishing their geographical
footprint in their flourishing hometown Tampa market.
![Sage at Cypress Cay, Lutz Fl Sage at Cypress Cay, Lutz Fl](https://mma.prnewswire.com/media/2469316/Argyle_Real_Estate_Partners_Sage_at_Cypress_Cay.jpg)
"Tampa's explosive growth story
began well before the pandemic with submarkets like Lutz reaping the benefits of those tailwinds
and emerging as a top destination for professionals and families,"
said Ryan Reyes, CEO of Argyle.
"Given the Tampa Palms submarket's affluent demographics, proximity
to major hospital systems and projected future growth, we feel
great about planting this flag in our backyard with Sage and
Lantana."
Built in 2022, Sage at Cypress Cay offers 1, 2, and 3-bedroom
units with "smart" technology, stainless steel appliances,
full-size washers/dryers, granite countertops, plank flooring, and
9ft-high ceilings. External amenities include a resort-style pool
with outdoor kitchens and firepits, a state-of-the-art clubhouse
with a spacious lounge and billiards table, a first-class fitness
center, and a large bark park and pet spa. Lantana at Cypress Cay was built in 2023 with
comparable modern unit offerings and similar best-in-class external
amenities as Sage. Due to the top-notch quality of this portfolio,
Argyle will implement minor capital improvements to further enhance
the community's allure upon takeover.
"Sage and Lantana presented an
excellent opportunity to jump into our hometown market which has
continued to sustain impressive growth over the last several
years," said Mark Sembler, CEO at
SIREP. "With approximately 30k
healthcare and education jobs in the immediate vicinity, and its
proximity to Downtown Tampa, these
two properties are well-positioned to benefit from these growing
and diverse employment hubs and provide quality living solutions to
these employees."
Sage and Lantana are minutes
from the University of South Florida
(USF), Veterans' Hospital, Advent Health's main hospital campus and
20 minutes from Downtown Tampa,
Water St., and Tampa's Westshore
Business District. The properties are also close to major highways
I-275, I-75, and I-4, allowing residents easy access to the Bay's
award-winning beaches and other local attractions.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/argyle-real-estate-partners-and-sembler-investments-real-estate-partners-acquire-576-unit-portfolio-in-tampa-fl-302206805.html
SOURCE Argyle Real Estate Partners