Contact us

News & Insights

238 Bay Pointe Colony units in Tampa acquired

MIAMI - Nov 19, 2015

FCA Group (now incorporated in Elandis), the North and Central American real estate investment and property management arm of the Libra Group, has acquired 238 residential apartments of the 260 units on the Bay Pointe Colony multifamily community development in Tampa, Florida.

Following the acquisition, FCA Group, which has owned and operated over 1,500 multifamily units in the area in the last five years, is embarking on a comprehensive investment program, which will bring direct benefits to the community while adding prestige and value to the development as a whole.

Occupying more than 16 acres of parkland, Bay Pointe Colony is well-located, close to one of the largest universities and research centers in Florida, and to large hospitals and medical research and office complexes. Nearby is Grand Pavilion, another large multi-family community in FCA’s portfolio.

“Our mission is to improve living conditions for low to middle income communities in this region and in turn reduce tenant turnover and enhance the environment,” said Frank Espinosa, CEO of FCA Group. “The development will undergo significant renovation including the total re-build and upgrade of 25 currently unoccupied units, plus substantial common area improvements with new amenities and restoration of the natural beauty of the parkland setting.”

This acquisition represents the addition of nearly 200,000 sq ft to FCA’s North America multifamily housing portfolio, enabling its specialist property management team, with its long track record in repositioning real estate assets, to enhance long-term values.

“The Bay Pointe acquisition is an off-market deal, achieved through FCA Group’s considerable local market insight and strong relationships,” added Espinosa. “We feel the timing is right given strong rental housing demand supported by improving employment drivers in the area.”

[ You may also interested ]...

Fannie Mae Finances Elandis’s Pine Creek Multifamily Community In Houston, Texas, With $11m Property Loan
HOUSTON - Oct. 03, 2017

Elandis announced today the financing of Pine Creek, the firm’s 300-unit, two-story multi-family community located in Houston The development’s lending facility of $1115 million is with US government-sponsored enterprise, Fannie Mae on a seven-year term Fannie Mae is a

Elandis acquires 14,000 sqm land for villa development in Northern Argentina
MIAMI - Sept 21, 2017

Elandis, an international hospitality and real estate ownership, development and property management subsidiary of the Libra Group, announced today that it has acquired 14,000m2 of land on the Estancia de Cafayate residential and sporting estate in the Salta region

Elandis sells Jasmine in Tamarac, Florida, for $22 million
MIAMI, FL - August 5, 2016

Elandis (formerly FCA Group), the Americas real estate investment and property management arm of the Libra Group, has announced its sale of Jasmine at Tamarac, a portfolio of 222 residential apartments located in Tamarac, Florida, in Broward

Elandis acquires 1,000 multi-family apartments in Houston, TX
MIAMI - May 30, 2016

$50 million deal adds to Elandis portfolio

Elandis, the real estate ownership, development and property management arm of the Libra Group throughout the Americas, has acquired approximately 1,000 units in four separate multi-family communities in Houston,

‘Grand Pavilion’ in Tampa sold
MIAMI - July 28, 2016

FCA Group (now incorporated to Elandis), the North and Central American real estate investment and property management arm of the Libra Group, has sold 212 residential apartments of ‘Grand Pavilion’, the 163,000 sq ft multifamily community development

‘Oaks at Granada’ in Tampa sold
MIAMI - Dec 29, 2015

FCA Group (now incorporated in Elandis), the North and Central American real estate investment and property management arm of the Libra Group, has sold 94 residential apartments of ‘Oaks at Granada’, the 121,250 sq ft multifamily community