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Multifamily Real Estate Investment Trust Expands Tampa Presence

Preferred Apartment Communities Acquires 218-Unit Complex in Westchase Community
5 Oaks at Westchase. (CoStar)
5 Oaks at Westchase. (CoStar)
By James Regoord
CoStar Research
September 30, 2019 | 4:15 P.M.

Preferred Apartment Communities earlier this month acquired 5 Oaks at Westchase, a recently completed apartment community in northwest Tampa from Flournoy Cos., the developer, and its backing partner, The Carlyle Group, for $52.3 million, or approximately $239,908 per unit, with a 4.5% capitalization rate. 

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