We positioned the fund as a preferred partner for developers with geographic and project-specific expertise that will allow us to consider many more investments while reducing execution risk. Our investment focus is on multifamily residential and build-to-rent communities although we are open to other types or commercial properties should an attractive opportunity arise. Appealing areas to invest in are those with strong population and employment growth.
Tampa Heights, where we’ve invested in townhouses, illustrates our strategy: targeting growing, revitalized neighborhoods with strong potential for long-term capital appreciation. The property is located just north of downtown Tampa along the Hillsborough River. Several long-term trends make Tampa Heights an attractive place to invest. First, downtown Tampa has benefited from billions of dollars in capital invested over the last 10 years and has been completely revitalized. Secondly, the scenic Riverwalk connects downtown Tampa and Tampa Heights, providing a pleasant and heavily utilized passage between the two neighborhoods. Tampa Heights has already seen a boom in capital inflows including residential properties, new restaurants and craft breweries in recent years. This renaissance is highlighted by Armature Works, a former factory, which has been converted into 20 upscale bars and restaurants situated along the Hillsborough River.
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