Lantower Lands 451-Unit FL Asset
- Oct 16, 2017
Lantower Residential acquired Seneca at Cypress Creek, a 2010-built community in the Lutz/Wesley Chapel submarket of Tampa, Fla. Located at 1810 Sweetbroom Circle, the 451-unit community features one-, two- and three-bedroom floorplans ranging from 645 to 1,611 square feet, across 28 three-story buildings.
Interior features include wine racks, attached garages, screen-in lanais, black or stainless steel appliances, kitchen islands, washer/dryers, high ceilings and views of a man-made lake. Residents have access to amenities such as three resort-style pools, parks with walking trails, an entertainment room with billiards, a playground, spa, 937 parking spaces, outside storage, a cyber cafe and a 10,000-square-foot clubhouse with a new fitness and business center.
“The acquisition of Seneca at Cypress Creek enables Lantower Residential to expand its current Tampa position with a large Class A institutional-quality asset in one of the strongest submarkets in Tampa,” said Philippe Lapointe, chief operating officer for Lantower Residential. “Outstanding public schools, combined with the growth of the Lutz/Wesley Chapel submarket and quick interstate access, makes Seneca at Cypress Creek a great addition to our Florida portfolio.”
Built by Greystar Real Estate Partners, the community is in close proximity to Interstate 75, SR 54/56 and one million square feet of retail at the Tampa Premium Outlets, The Shoppes at New Tampa and Cypress Creek Town Center. The property last changed hands in 2012, when UBS Realty Investors purchased the community from Greystar for $62.5 million, according to Yardi Matrix. Including this recent acquisition, Lantower’s portfolio comprises 14 multifamily properties totaling 4,600 residential units.
Images courtesy of Lantower Residential