Altman Companies Sells Tampa-Area Mixed-Use Community

Tampa, Fla.—Luxury apartment community developer The Altman Companies sold its Tampa-area apartment community, Altis Highland Park, to Salt Lake City, Utah-based multifamily property owner Cottonwood Residential.

The 239-unit, luxury mixed-use apartment community is located in Westchase, a community area in Hillsborough County. Located about halfway between Tampa and Clearwater, Westchase is among the wealthiest communities in Hillsborough County.

Altis Highland Park, which features approximately 5,000 square feet of retail space, sold for $46 million.

“The Altman Companies is proud to have delivered a first-class community for the highly desirable Westchase neighborhood,” The Altman Companies chairman Joel Altman said. “This sale shows the strong demand for luxury rental product in the area.”

Built in 2014, Altis Highland Park features studio, one-, two- and three-bedroom floor plans whose monthly rents range from $1,193 to $2,028. Among the community’s distinctive, resort-like lifestyle amenities are a private poolside lounge with chef-inspired demonstration kitchen and fireplace, 24-7 club-class fitness center, yoga and aerobics studio with on-demand virtual fitness programs, game center, coffee bar with Internet café, dry cleaning, package pickup, dog park and private community garden. Residents can also take advantage of fishing and bird watching at nearby Galt Lake.

The community is also near golf courses, shopping centers and dining, and is in an area featuring highly rated schools and large employers.

Altis Highland Park’s non-residential component offers retail space that assures an all-inclusive community. Volume Hair Studio is expected to occupy space there later this year, joining Kahwa Coffee and a self-service auto detail facility.