Providence Management Co. Buys Tampa Property
Centennial Holding Co. has sold Century Falls Apartments for $52.8 million. The buyer has rebranded the community as Seasons at Westchase.
Providence Management Co. has purchased Century Falls Apartments, a Class A, 273-unit property in Tampa. Centennial Holding Co. sold the property for $52.8 million which equates to $193,223 per unit, according to Yardi Matrix data. The sale was subject to a $33.7 million Fannie Mae loan. The property was renamed Seasons at Westchase.
Situated at 12011 Citrus Falls Circle, the property is in the Citrus Park/Westchase area near Freeway 589, approximately 16 miles from downtown Tampa and around 20 miles from St. Pete-International Airport. Built in 2003, the 12-building community occupies almost 24 acres and comprises a mix of one-, two- and three-bedroom units, averaging 962 square feet, Yardi Matrix data shows. The apartments feature ceramic tile flooring in kitchen, baths and foyer, 9-foot ceilings, ceiling fans, pre-wired intrusion alarms, closets, stainless steel sinks and garbage disposals. Communal area amenities include:
- pool with waterfalls
- fitness center
- basketball court
- poolside grills
- bark park
- detached garages
- business center
- tot lot
Tampa’s multifamily market has been active lately. One of the most recent deals includes the $88 million sale of SkyHouse Channelside.
Image courtesy of Yardi Matrix