Multi-housing / PRS

Tapestry Town Center

650 Tapestry Ln Brandon, Florida United States 33511-8634
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2020
Building Area Net
Number of units 287

Property description

Jones Lang LaSalle Americas, Inc. (JLL) is pleased to present the opportunity to acquire Tapestry Town Center (the “Property”), a 287-unit, recently delivered four-story surface-parked multifamily community located in Brandon, a dynamic and rapidly growing submarket of Tampa, Florida. The Property is strategically located immediately adjacent to the entrance of the Selmon Expressway (66,000 AADT), which provides direct access to Downtown Tampa (77,000 jobs) within a 10 minute drive, and is also next to the Westfield Brandon Town Center, which offers a plethora of retail concepts including Dick’s Sporting Goods, Apple, P.F. Chang’s, and Sephora among other options. Delivered in August 2020, Tapestry Town Center has enjoyed an extremely rapid lease-up (46 signed leases in a single month) and continues to experience increased demand and accelerating rental rates as it approaches stabilization. 

 

Artfully designed with a modern aesthetic, the four-story, elevator served Tapestry Town Center offers a luxurious amenity package to compliment its stylish interiors. The Property encompasses two distinct phases, with each offering a salt-water pool, fire pit, BBQ grills, a dog park, and a mail center. Additional amenities include a fitness studio, with free weights and cardio machines, a yoga/spin studio with on demand fitness, a club room with billiards and a premium coffee bar, a business center with iMac & PC computers, and a dog spa, among other features. These community amenities, coupled with the Property’s sophisticated, well-appointed interiors, help Tapestry Town Center stand out among its surrounding competition. 

 

Tapestry Town Center’s strategic location also allows it attract residents seeking an affordable alternative to downtown Tampa, as well as those who work within the Brandon submarket, which itself is home to many large suburban office campuses and well-known employers including as Citi (5,000 jobs), USAA (3,600 jobs, Progressive (2,400 jobs), Spectrum (2,000 jobs), plus two major hospitals (2,715 jobs). While suburban in nature, Brandon is also one of Tampa’s top destinations for shopping and entertainment. The Property is in close proximity to attractions such as TopGolf, The Seminole Hard Rock Casino (which just completed a $1.5B expansion), MidFlorida Amphitheater (which host big name acts throughout the year), and millions of square feet of retail and restaurants.

Investment highlights

  • Differentiated Asset with Luxurious Amenities and Stylish Interiors
  • Burgeoning Submarket with Accelerating Demand & Significant Rent Growth
  • Compelling Value Proposition Relative to Downtown Tampa
  • Extremely Rapid Lease-up and Quickly Rising Rental Rates
  • Walkable to Westfield Town Center and Plethora of Nearby Retail Options
  • Proximate to some of Tampa’s Largest Employers and Entertainment Destinations
  • Adjacent to Selmon Expressway, which puts Downtown Tampa only 10 minutes away.
Last Updated Date: 30 Sep 2021
Matt Mitchell
Matt Mitchell
Senior Managing Director, Tampa Office Co-Head
Broker Licenses
FL-BK3221815
Zach Nolan
Zach Nolan
Senior Director, Capital Markets
Broker Licenses
FL-SL3280497

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Last Updated Date: 30 Sep 2021

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