Waypoint Residential Acquires 512-Unit FL Portfolio

The two communities, Riverside Apartments in metro Tampa and Harbor Cove Apartments in Gainesville, are both located within close proximity to major universities.
Harbor Cove Apartments

Waypoint Residential has acquired a 512-unit multifamily portfolio in Florida. The portfolio consists of the 304-unit Riverside Apartments in metro Tampa and the 208-unit Harbor Cove Apartments in Gainesville, Fla. 

Riverside Apartments is situated 35 miles from downtown Tampa, Fla. and St. Petersburg, Fla. It is near major employers like the University of Tampa, local beaches, retail and entertainment. Community amenities include a clubhouse, fitness center, swimming pool, playground and picnic area.

Harbor Cove Apartments is situated in close proximity to the University of Florida, the UF Shands Health System and Santa Fe College. The community is located close to retail and entertainment options and Interstate 75. Resident amenities include a swimming pool, volleyball court, playground and business center.

“Riverside and Harbor Cove are creative acquisitions for Waypoint Residential,” said Jeremy Pemberton, chief acquisition office at Waypoint Residential, in prepared remarks. “Both properties are well-built, well-maintained and well-located in markets and submarkets where Waypoint has proven experience successfully managing similar properties.”

Earlier this year, Waypoint Residential acquired a 576-bed student housing community in Charlotte, N.C., as part of a $102 million five-property student housing portfolio.

Image courtesy of Yardi Matrix