TAMPA, FL - Avesta Communities, in partnership with New York-based GRJ, has purchased Arbors at Carrollwood, an apartment home community off Ehrlich Road in the Carrollwood neighborhood just north of Tampa. The Arbors is a 390-unit fractured condo community, which will be managed by Avesta's in-house property management division, Avesta Homes.
Arbors at Carrollwood offers one to three-bedroom apartment homes, a swimming pool, a waterfall hot tub, an expansive fitness center, clubhouse and business center, garages, boat parking, tennis court, dog park, and picnic areas for residents to enjoy.
"We see Tampa as an emerging and strengthening market," said Gregory Jones of GRJ, a real estate company that owns, develops and operates multi-family and mixed-use assets. "We're excited about this purchase and working with Avesta to provide a superior apartment living experience for our residents."
Avesta plans on a multimillion-dollar capital improvement program, enhancing the already high quality of the property by making interior renovations to various common areas, as well as the apartment homes.
"We are excited to expand even further in the Tampa Bay market," said Avesta partner, Rachel Ridley. "The economy here is flourishing, with a fast-growing job market and booming population, which are outpacing the national average."
With the addition of this new apartment home community, Avesta now owns more than 1,500-units in the Tampa Bay area. Arbors at Carrollwood is conveniently located near Avesta's Tampa support office near North 56th Street and Hillsborough Avenue.