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REA
March 20, 2019  

Value-Added Tampa Rentals in Play

An investment firm is pitching a value-added Tampa apartment property that includes land suitable for more units.The 360-unit Westly Shores, just west of Tampa International Airport, is valued at roughly $62 million, or $172,000/unit. At that price, the initial annual yield would be between 4.5% and 5%. Newmark is advising the owner, Abacus Capital of New York.A buyer could seek to boost its return by continuing a renovation program recently...


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