Modera Westshore, Tampa, FL October 19, 2016
For Immediate Release
LANTOWER RESIDENTIAL ENTERS THE TAMPA, FL. MARKET WITH THE PURCHASE OF MODERA WESTSHORE
Dallas, Texas, October 19, 2016 – Dallas-based Lantower Residential, a national multifamily owner and operator, announced today that it has acquired Modera Westshore, a 300-unit midrise-style community in Tampa, Florida.
Completed in 2014, Modera Westshore is a Class A property centrally located in the heart of the Westshore Business District, Tampa’s largest employment market with 93,000 jobs and 13.3 MM SF of office space. This central location also provides easy access to every major employment center including a 10-minute drive to downtown Tampa and 20 minutes to downtown St. Petersburg.
Modera Westshore is within walking or biking distance to International Mall and Westshore Plaza with premiere shopping, casual to fine dining restaurants, bars and entertainment and is less than 2 miles away from Whole Foods Market. Modera is comprised of luxury one, two, and three-bedroom apartment homes and townhomes. The community amenities feature a resort-inspired saltwater pool, state of the art two-story fitness center and an elegant clubhouse.
“We are delighted to enter the Tampa market with this accretive acquisition, purchased at a terrific basis.” said Philippe Lapointe, Chief Operating Officer of Lantower Residential. “Properties with concrete construction located in affluent neighborhoods are very expensive and even harder to find, and so we couldn’t be more excited to add Modera to our growing portfolio.”
Lantower Residential is a vertically integrated real estate company specializing in the acquisition, ownership, and asset management of multifamily communities in the U.S.