Robbins/Elco Management Acquires Four Apartment Properties

Victoria Pool

Tampa, Fla.—Robbins/Elco Management, along with equity partners, has acquired four apartment communities, three in Florida and one in Texas, for unspecified prices. The four properties total 1,146 units; two of them date from the 1980s, and two were completed more recently.

The properties include:

• Victoria at Orange Park (formerly Waterford at Orange Park), a 280-unit apartment community in Jacksonville, built in 1986. The property features one- and two-bedroom units. Plans for full interior and exterior renovations are under way.
• The Preserve at Tampa Palms (formerly Vista Grand) a 378-unit community in Tampa, built in 2002. It features one-, two- and three-bedroom units, and full interior and exterior renovations are in now progress at the property as well.
• Canopy Apartment Villas, a 296-unit community in Orlando, built in 1981. The property features a number of amenities, including all first-floor walk-up access and landscaped courtyards. Exterior renovations and enhancements of amenities are currently under way.
• Parkway Grande (formerly Parkway Falls), a 192-unit community, is the only Texas property among the four, located in San Marcos, a small city between San Antonio and Austin. Built in 2014, the property and features one-, two- and three- bedroom units, and is within walking distance of the Central Texas Medical Center.

Part of Tampa-based Robbins/Elco Management’s strategy is to remodel or adds enhancements to its new assets to meet the demands of upscale residents. High-end features include fully renovated kitchens with new appliances, upgraded lighting and plumbing fixtures, USB outlets, plank flooring, outdoor summer kitchens and fire pits at resort-style pool areas, fitness centers and dog parks. With the addition of these four properties, the company now owns or manages more than 11,000 apartment units.