Triwest Development Pays $71M for Tampa-Area Community

The property’s developer sold the 252-unit asset after almost 18 years of ownership.

The Lakes at Collier Commons. Image courtesy of Rosewood Realty Group

Triwest Development has acquired Lakes at Collier Commons, a 252-unit community in Land O’ Lakes, Fla., for $71 million.

Primerica Group One sold the property after almost 18 years of ownership. Greystone Managing Director Eric Rosenstock brought the deal to Rosewood Realty Group, which arranged the sale on behalf of both parties.

Completed in 2004, the Class A asset spans 31.5 acres and encompasses 10 buildings with one-, two- and three-bedroom apartments, ranging from 834 to 1,397 square feet. Community amenities include a fitness center, swimming pool with spa, business center, clubhouse, playground and volleyball court.

Located at 22743 Preakness Blvd., the community is within walking distance of multiple retail options, such as Colliers Commons, as well as dining areas along Collier Parkway. Route 41, connecting the community to downtown Tampa and the city center, is 2 miles away from the property.

Rosewood Realty Group’s Investment Sales broker Alan Soclof represented the buyer, while Vice President of Investment Sales Michael Schattner and President of National Investment Sales Jonathan Brody worked on behalf of the seller.

In September of last year, Brody also worked on a $108.7 million portfolio sale in San Antonio. The properties, totaling 1,230 units, were sold by Kairoi Residential to Sun Equity Partners.

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