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‘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 development in Tampa, Florida.

Following the sale, 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 to add more properties to its wide portfolio.

“‘Oaks at Granada’ was acquired in 2012 and it was seriously damaged. However, after an intensive repositioning program the property was held at nearly 100% occupancy over the last two years, with waiting lists of people that would like to live there”, said Frank Espinosa, CEO of FCA Group. “The stabilization process began by ensuring a safe environment, with responsible tenants and then we upgraded the exterior and interiors of the condominium”, added Frank Espinosa.

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